What happened 

Shares of PagerDuty (PD -2.45%), a digital operations management company, were climbing today after the company reported better-than-expected third-quarter results. The company beat Wall Street's top- and bottom-line estimates and raised its full-year earnings guidance. 

As a result, the tech stock was up by 7.1% as of 10:36 a.m. ET. 

So what 

PagerDuty reported non-GAAP (adjusted) earnings per share of $0.04, up from a loss of $0.07 in the year-ago quarter and easily outpacing analysts' consensus estimate of a loss of $0.04 per share.

NYSE: PD

PagerDuty
Today's Change
(-2.45%) -$0.37
Current Price
$14.72
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Key Data Points

Market Cap
$1B
Day's Range
$14.66 - $15.24
52wk Range
$14.40 - $23.12
Volume
1,343,708
Avg Vol
1,177,617
Gross Margin
82.82%
Dividend Yield
N/A

The company also beat Wall Street's top-line estimates, with PagerDuty reporting $94.2 million in the quarter, up 31% year over year, ahead of the average consensus estimate of $92.8 million. 

"Despite a volatile macroeconomic backdrop, we made significant progress in realizing profitable, durable growth," PagerDuty CEO Jennifer Tejada said in a press release.

In addition to the company's strong performance in the third quarter, PagerDuty's management also raised its full-year earnings guidance to between negative $0.01 and $0.00, compared to Wall Street's average consensus estimate of a loss of $0.11 per share. 

Now what 

Investors were also happy to see that the company expects full-year revenue to be in the range between $368 million and $370 million, which is in line with analysts' average estimate of $367.8 million. 

With the company's strong performance in the third quarter and management's optimistic outlook for the full year, it's no surprise to see PagerDuty's stock rising quickly.