Shares of NetSuite, the cloud-based software company, rose by more than eight percent today ahead of its reporting quarterly results that beat the expectations of analysts. The shares then rose another five percent in after-hours trading.
NetSuite reported Q4 revenue of $115 million, up 35 percent over the year-ago quarter, and non-GAAP earnings of eight cents a share. Both figures beat the consensus estimate of analysts, who had expected seven cents and sales of a little more than $111 million. For the year, NetSuite booked almost $415 million in sales and 26 cents a share.
The company’s shares have been on a tear over the last 18 months, more than doubling since June of 2012, and rising 65 percent since this time last year. It was a busy year at the company, whose Enterprise Resource Management software helps companies run their operations. NetSuite expanded its offerings to include cloud-based point-of-sale software with the acquisition of Retail Anywhere last year. Later in the year it got into human resources, acquiring TribeHR.
NetSuite’s applications tend to replace on-premise applications from SAP, Microsoft and Sage. CEO Zach Nelson, a longtime student of the Larry Ellison school of business (Ellison was an early investor and still owns a fair-sized stake) is always quick to take a shot at his competitors, especially SAP. Today’s earnings report was no different. “Our continued execution and growth bear witness to the fact that as companies move their core business applications to the cloud, they are moving to NetSuite and leaving the pre-cloud solutions of Microsoft, Sage and SAP behind,” he said in a statement.
This article originally appeared on Recode.net.