Smartsheet Inc (NYSE:SMAR) reported better-than-expected first-quarter financial results and announced an inaugural $150 million share repurchase program on Wednesday.
Smartsheet reported quarterly earnings of 32 cents per share which beat the analyst consensus estimate of 27 cents per share. The company reported quarterly sales of $263.00 million which beat the analyst consensus estimate of $258.28 million, according to data from Benzinga Pro.
The company also announced that its board authorized the repurchase of up to $150 million of its common stock.
“This will be a pivotal year for Smartsheet. We believe the combination of new product innovations, the upcoming launch of our modern …