Why Qualtrics (XM) shares move in Wednesday's after-hours session

Qualtrics International Inc XM shares are trading up 2.59% to $11.50 in Wednesday night trading after the company reported sales results and adjusted EPS in the fourth quarter better than expected.

What happened?

Qualtrics reported quarterly earnings of 3 cents per share, beating analysts' consensus estimate of 2 cents. The company also posted quarterly sales of $389.10 million, which beat analysts' consensus estimate of $381.11 million by 2%. Additionally, this revenue represents a 23.12% increase from sales of $316.04 million in the same period last year.

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Qualtrics says the company expects total revenue of between $392 million and $394 million. Qualtrics also expects FY23 revenue as low as $1.661 billion or as high as $1.669 billion, compared to the consensus analyst estimate of $1.69 billion.

"Qualtrics delivered strong fourth quarter results, capping off a very strong year of growth and significant operating margin increases," said Zig Serafin, CEO of Qualtrics.

"Qualtrics continues to be essential in helping companies build closer relationships with their employees and customers to increase revenue and operate more effectively in a challenging market" , said Serafin.

According to data from Benzinga Pro, XM has a 52-week high of $32.81 and a 52-week low of $9.32.

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