Smartsheet (SMAR) Q2 Earnings and Revenues Surpass Estimates

Core Viewpoint - Smartsheet (SMAR) reported quarterly earnings of $0.44 per share, exceeding the Zacks Consensus Estimate of $0.29 per share, and showing significant growth from $0.16 per share a year ago, resulting in an earnings surprise of 51.72% [1] Group 1: Earnings Performance - The company has consistently surpassed consensus EPS estimates over the last four quarters [2] - Smartsheet's revenues for the quarter ended July 2024 were $276.41 million, exceeding the Zacks Consensus Estimate by 0.86% and up from $235.59 million year-over-year [2] Group 2: Stock Performance and Outlook - Smartsheet shares have declined approximately 1% year-to-date, contrasting with the S&P 500's increase of 15.7% [3] - The future performance of the stock will largely depend on management's commentary during the earnings call and the earnings outlook [4][6] Group 3: Earnings Estimates and Industry Context - The current consensus EPS estimate for the upcoming quarter is $0.30 on revenues of $284.42 million, and for the current fiscal year, it is $1.26 on revenues of $1.12 billion [7] - The Internet - Software industry, to which Smartsheet belongs, is currently ranked in the top 36% of over 250 Zacks industries, indicating a favorable outlook compared to lower-ranked industries [8]