06:06 AM EDT, 06/05/2024 (MT Newswires) -- (Updates with the stock move in the headline and first paragraph, as well as minor edits.)

Guidewire Software ( GWRE ) shares were up 7.9% in recent premarket activity on Wednesday after the company swung to a profit as sales surged in fiscal Q3 and raised its fiscal 2024 revenue guidance.

The company reported fiscal Q3 non-GAAP earnings late Tuesday of $0.26 per diluted share, compared to a loss of $0.08 a year earlier.

Analysts polled by Capital IQ expected $0.13.

Revenue for the quarter ended April 30 rose to $240.7 million from $207.5 million a year earlier.

Analysts surveyed by Capital IQ expected $231.4 million.

The company expects Q4 revenue between $279 million and $287 million.

Analysts polled by Capital IQ expect $285.6 million.

The company now expects fiscal 2024 revenue between $968 million and $976 million, compared with previous estimates of between $957 million and $967 million.

Analysts surveyed by Capital IQ expect $965.1 million.

Price: 116.53, Change: +8.48, Percent Change: +7.85