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By Oyin Adedoyin
Shares of eGain climbed in post-market trading on Thursday after the company posted revenue and earnings results that beat guidance.
The stock rose 10% to $6.93, and gained 3.6% in the regular session. Shares had been down by about 30% this year.
The Sunnyvale Calif.-based company, which helps automate customer engagement services using artificial intelligence, reported a profit of $2.6 million, or 8 cents per share, for the quarter-ended June 30, compared with a loss of $1.6 million, or 5 cents per share, a year earlier.
On an adjusted basis, eGain reported earnings per share of 11 cents, ahead of the 7 cents the company forecasted for in May.
Revenue rose 5% to $24.6 million, topping the company’s forecast for up to $24 million.
Chief Executive Ashu Roy said deals with customers that had stalled over the past year are now picking up again, helped in part by AI. “Generative AI is rejuvenating interest in knowledge management platforms, and this will drive demand for our products in fiscal 2024,” he said.
Write to Oyin Adeoyin at [email protected]
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