Shares in cloud subscription services company Zuora Inc. were flat in after-hours trading today despite the company’s quarterly earnings report topping analysts’ expectations.

For the quarter ended April 30, Zuora reported revenue rose 9% from a year ago, to $80.3 million. Subscription revenue rose 14%, to $65.1 million. Its loss before costs such as stock compensation came in at $2.8 million, or two cents per share, compared with $7.5 million, or six cents per share, a year ago.

Analysts had been predicting an adjusted loss of four cents per share on revenue of $79 million.

Highlights in the quarter included Zuora seeing a 5% growth in customers with an annual contract value of $100,000, to 677. Customer usage grew 38% from a year ago, to $17 billion in transaction volume. The company also launched Zuora Collect AI, a service that leverages machine learning to automate smart payment retires.

“The first quarter was a solid start to the year, as we executed on the strategy we laid out at last month’s Investor Day,” Tien Tzuo (pictured), founder and chief executive officer of Zuora, said in a statement. “We exceeded expectations across our key operating metrics, drove significant improvement on net dollar retention and believe that we have built a solid foundation for Zuora’s long-term growth.”

Zuora said it expects to book subscription revenue of between $67.5 million and $69.5 million on total revenue of between $82.5 million and $84.5 million in its second quarter. Adjusted loss in the quarter is expected to be between $5 million and $4.5 million or three to four cents per share.

For the full fiscal year, Zuora is estimating subscription revenue of between $274 million and $278 million, overall revenue of $337 million to $339 million, and an adjusted loss of $12 million to $8 million, or six to 10 cents a share. Analysts had been predicting a revised profit of eight cents a share on revenue of $336 million.

After initially bouncing up after the close of regular trading, shares in Zuora settled to be rise about a half-point as of 8 p.m. EDT.

Photo: SiliconANGLE