And if the rate of increase of revenue is greater than the rate of increase of the loss, the company has made progress, right? Well, first-quarter revenue was $216.6 million, an increase of 31.4 percent from $164.8 million in last year's corresponding period. While the larger companies NetSuite is trying to reach sometimes delay orders and produce soft first quarters, CEO Zach Nelson said, "This first quarter was one of our strongest across the board" and added that it exceeded all of the company's metrics. NetSuite added 372 new customers with deals of more than $1 million at a new high. Nelson said despite the success at high end of his company's market, it was also strong in the mid-market
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NETSUITE'S REVS, LOSS HIT "30s" Featured
I think I just invented that term, but for the first quarter ended March 31, the revenue and loss for NetSuite both exceeded a 30-percent change over the prior year. The San Mateo, Calif.-based cloud software company continued its boom-and-spend ways as it reported results this week. The net loss was $29.7 million for the most recently ended quarter, an increase of 30.9 percent over $22.7 million a year earlier.
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