New Relic CEO ‘Amazed’ by C-Suite Embrace of Public Cloud

May 11, 2016 Off By David

Grazed from Barron’s. Author: Tiernan Ray.

Following a report this afternoon by software management and analytics tools maker New Relic (NEWR) of fiscal Q4 revenue that topped analysts’ expectations and a an outlook for this quarter and the year above consensus, CEO Lew Cirne was kind enough to spend a few minutes talking with me by phone.

Cirne was “thrilled” with the results, including both a 10% improvement in the company’s operating profit margin, on an adjusted, non-GAAP basis, and the company’s further expansion into enterprise accounts after a history of selling mostly to small and medium businesses…

“This year, our new enterprise business rose by 90%, and our total MRR [monthly recurring revenue] rose by the same amount,” said Cirne. “And this last quarter, our enterprise new business exceeded our SMB new business for the first time ever.” Given the company’s exposure to projects being developed for cloud computing, I asked Cirne to tell me what he’s hearing from customers regarding their use of public cloud services such as Amazon‘s (AMZN) Amazon Web Services or Microsoft‘s (MSFT) Azure…

Read more from the source @ http://blogs.barrons.com/techtraderdaily/2016/05/10/new-relic-ceo-cerne-amazed-by-c-suite-embrace-of-public-cloud/