New Relic (NEWR) announced stronger-than-expected quarterly revenue growth today, the latest sign that businesses, DevOps teams and IT services providers are embracing Application Performance Monitoring (APM) to manage and optimize cloud, web and mobile applications.
New Relic revenues were $68.1 million for the quarter ended December 31, 2016, up sharply from $47.7 million for the corresponding quarter in 2015. The results beat Wall Street's revenue expectations by about $1.68 million.
The strong New Relic results are particularly timely. Cisco Systems recently announced plans to acquire New Relic rival AppDynamics for $3.7 billion. And yet another APM rival, Dynatrace, is hosting customers and partners at the Dynatrace Perform 2017 conference this week in Las Vegas.
During a November 2016 interview with ChannelE2E, New Relic CEO Lew Cirne said the company was built to last -- especially as more MSPs assisted businesses with digital transformation strategies. True believers include 2nd Watch, Atea and Slalom Consulting, just to name a few.
We'll update this article with additional thoughts from New Relic following today's earnings call.