UiPath Inc (NYSE:PATH) releases second-quarter results after the closing bell on Wednesday, September 6, and Cathie Wood is likely to be paying close attention.
The robotics software is the fourth-biggest holding in Wood’s Ark Invest exchange-traded fund (ETF), with a 5.2% holding. The company leverages innovations in artificial intelligence (AI) to improve efficiency.
Of interest will be the recently announced expansion of its partnership with Google Cloud to help customers get started with intelligent automation while keeping costs under control. UiPath now offers customers more than 30 activity packs and 10 connectors for Google Cloud.
UiPath has already guided investors to expect 2Q revenue of between $279 million and $284 million, up from $242 in 2Q 2023.
The Zacks Consensus Estimate for revenue is pegged at $281.9 million, indicating a 16.4% year-over-year increase. The consensus estimate for the bottom line stands at $0.03 per share.
Contact the author at stephen.gunnion@proactiveinvestors.com