Shares of Endava Ltd (NYSE:DAVA) soared 8.77% in pre-market trading on Monday, following the company's strong first-quarter results and upbeat guidance for the second quarter.
For the first quarter, Endava reported revenue of £195.1 million, up 3.6% year-over-year. Adjusted earnings per share came in at £0.04. While revenue growth was modest, the company's outlook for the current quarter painted a more optimistic picture.
Endava expects second-quarter revenue to be in the range of £195.0 million to £197.0 million, representing a constant currency revenue increase of 8.5% to 9.5% compared to the same period last year. This upbeat guidance appears to be driving investor enthusiasm and the pre-market stock rally.
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