New Relic reports Q1 EPS 43c, consensus 31c

Reports Q1 revenue $242.63M, consensus $239.16M. The company said, “In a separate press release issued today, New Relic announced it has entered into a definitive agreement to be acquired by Francisco Partners and TPG. A copy of the press release can be found on New Relic’s investor relations website at http://ir.newrelic.com. The additional details and information about the terms and conditions of the definitive agreement and the transactions contemplated today are available in the Current Report on Form 8-K filed by New Relic with the Securities and Exchange Commission (SEC). Given the announced transaction, New Relic will not host an earnings conference call or provide financial guidance in conjunction with this earnings release. New Relic is also withdrawing its previous financial guidance for fiscal year 2024 and has suspended any further updates as a result of the pending transaction. In addition, New Relic will no longer attend the Canaccord Genuity 43rd Annual Growth Conference on August 10, 2023 in light of the pending transaction. For further detail and discussion of New Relic’s financial performance please refer to New Relic’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2023, which will be filed later today with the SEC.”