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Why Sprout Social Stock Rocketed 8% Higher Today

Why Sprout Social Stock Rocketed 8% Higher Today

Sprout Social (NASDAQ: SPT) was a standout on the market Wednesday, thanks to an unexpected flip into profitability and generally strong results for its latest reported quarter. Sprout Social, which specializes in aggregating and organizing the social media efforts of enterprises, unveiled its fourth-quarter and full-year 2022 results. Revenue for the quarter rose by a robust 31% year over year to $69.7 million on the back of a 31% increase in its all-important subscription revenue (which forms the vast bulk of the total).