NETSUITE ANNOUNCES SECOND QUARTER 2014 FINANCIAL RESULTS

Editorial & Advertiser disclosure

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Top Stories

Posted By Gbaf News

Posted on July 29, 2014

NETSUITE ANNOUNCES SECOND QUARTER 2014 FINANCIAL RESULTS

First Pure-Play Cloud ERP Software-as-a-Service Company to Exceed Half a Billion Annual Revenue Run Rate

First Ever $100 Million Quarter of Recurring Revenue

Q2 Revenue of $131.8 Million, a 30% Year-over-Year Increase
Q2 Operating Cash Flows of $18.6 Million, a 19% Year-over-Year Increase

NetSuite Inc. (NYSE: N), the industry’s leading provider of cloud -based financials / ERP and omnichannel commerce software suites, announced results for its second quarter ended June 30, 2014.

Total revenue for the second quarter of 2014 was $131.8 million, representing a 30% increase over the same period in the prior year.

Cash flows from operations were $18.6 million in the second quarter of 2014, up from $15.6 million in the same period in the prior year.

On a GAAP basis, net loss for the second quarter of 2014 was $23.2 million, or $(0.31) per share, as compared to a net loss of $20.4 million, or $(0.28) per share, in the second quarter of 2013.

Non-GAAP net income for the second quarter of 2014 was $4.8 million, or $0.06 per share, as compared to non-GAAP net income of $4.0 million, or $0.05 per share, in the second quarter of 2013.

“NetSuite delivered record second quarter revenues, growing year-over-year by 30 percent for the eighth consecutive quarter. We also reported our first-ever $100 million quarter of recurring revenue signaling a break out moment. NetSuite’s leadership in cloud ERP has never been more clear,” said NetSuite CEO Zach Nelson.

Recommended for you