RTTNews | Oct 27, 2020 10:08AM EDT

10:08 Tuesday, October 27, 2020 (RTTNews.com) - Varonis Systems, Inc. (VRNS) shares are trading higher after the company's earnings surpassed estimates.

Currently, shares are at $132.56, up 8.27 percent from its previous close of $122.43.

The company reported third-quarter net loss of $19.23 million, wider than the loss of $16.99 million in the prior year. On a per-share basis, loss widened to $0.61 from $0.56 a year ago. On an adjusted basis, it reported earnings of $0.06 per share. On average, 19 analysts polled by Thomson Reuters expected the company to report loss of $0.13.

Revenue for the quarter increased to $76.75 million from $65.65 million in the previous year quarter. Wall Street expected revenue of $70.17 million.

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