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SailPoint stock rallies as results top Street view

SailPoint Technologies Holdings Inc. shares surged in the extended session Thursday after the cybersecurity company’s results topped Wall Street estimates. SailPoint shares surged 13% after hours, following a 0.1% rise in the regular session to close at $31.50. The company reported second-quarter net income of $3 million, or 3 cents a share, versus a loss of $9.2 million, or 10 cents a share, in the year-ago period. Adjusted earnings were 15 cents a share, versus an adjusted loss of a penny a share in the year-ago period. Revenue rose to $92.5 million from $63.1 million in the year-ago quarter. Analysts surveyed by FactSet had forecast an adjusted loss of 4 cents a share on revenue of $73.6 million. SailPoint expects an adjusted third-quarter loss of 6 cents to 5 cents a share on revenue of $82 million to $84 million, while analysts had forecast break-even results on revenue of $88.2 million.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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