Shares of PowerSchool Holdings, Inc. (PWSC) are gaining more than 20 percent on Wednesday morning trade after the company reported 16 percent growth, meeting estimates, in first quarter revenues.
Total revenue for the quarter increased to $185 million from $159.454 million a year ago. On average, 13 analysts polled by Thomson Reuters projected the company to report revenue of $184.97 million.
The company expects June quarter revenues in a range of $192-$197 million, and fiscal 2024 revenue in a range of $786 to $792 million.
Currently, shares are at $20.04, up 20.43 percent from the previous close of $16.64 on a volume of 3,030,056 shares.
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