Shares of cloud-based, connected-planning platform Anaplan (PLAN) were rising nearly 20% Tuesday after the company reported first-quarter results that came in ahead of analysts’ expectations. The San Francisco-based company reported a net loss of $37.2 million, or a loss of 16 cents a share on and adjusted basis, on revenue of $75.8 million. Analysts were expecting the company to report a loss of 21 cents a share on revenue of $70.5 million. “We are very pleased to start our fiscal year with strong first-quarter results. This is an indication of our continued success with our Connected Planning solution,” said Frank Calderoni, chief executive officer at Anaplan.

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