Shares of Asana Inc. ASAN, -2.77% were initially up 9% in extended trading Wednesday after the maker of workflow-management software announced fiscal fourth-quarter results that topped analyst estimates. Asana reported a net loss of $61.5 million, or 39 cents a share, compared with a net loss of $25.2 million, or 34 cents a share, in the year-ago quarter. The company’s adjusted net loss was $35 million, or 22 cents a share. Revenue leaped 57% to $68.4 million from $43.7 million a year ago. Analysts surveyed by FactSet had expected a loss of 26 cents a share on revenue of $62.7 million. Asana’s stock is up 8% so far this year. The broader S&P 500 index SPX, +0.60% has improved 4% this year.
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