Fusion-io Inc's quarterly results beat estimates helped by growth across its core business and the storage hardware and software maker raised its full-year revenue outlook, sending its shares up as much as 19 percent.
The company, said its core business contributed 45 percent to total business during the quarter, up from 35 percent in the previous quarter.
We are witnessing growth across geographies. Besides the financial services and public sector, we are seeing growth across retail, media and telecommunications businesses, David Flynn, Fusion-io's chief executive officer said on a conference call with analysts.
Fusion-io, which employs Apple Inc co-founder Steve Wozniak as its chief scientist, makes storage memory hardware and software that make data center servers more efficient by speeding up data processing.
Fusion-io, which was heavily dependent on its large strategic customers that include Facebook, Apple Inc and Hewlett-Packard, has been trying to diversify its customer base.
The company now expects full-year revenue of $305.7 million, a growth of about 55 percent. It had earlier forecast a 40 percent growth.
For the first quarter, the company earned $7.2 million, or 7 cents per share, compared with a loss of $5.8 million or loss of 46 cents a share, a year ago.
Revenue rose to 175 percent to $74.4 million.
Shares rose about 19 percent to $38 in extended trade. They closed at $32 on Wednesday on Nasdaq.
(Reporting by Rachana Khanzode in Bangalore;Editing by Supriya Kurane)