What happened Shares of Zuora (NYSE: ZUO) had soared today, up as much as 20% this morning before giving back much of those gains, after the company reported fiscal first-quarter earnings. As of 12:30 p.m. EDT, the stock is up just 3%. So what Revenue in the first quarter increased 15% to $73.9 million, which topped the consensus estimate of $70.7 million in sales. That resulted in an adjusted net loss of $7.5 million, or $0.06 per share, which was also better than the $0.10 per share in adjusted losses that analysts were expecting. Customers with annual contract value (ACV) of $100,00 or more grew to 643, while dollar-based retention rate was 103%. Image source: Getty Images. "We had another healthy quarter of growth despite the challenges arising from the pandemic," CEO Tien Tzuo said in a statement. "Moments like these truly highlight the resilience of having a subscription revenue business, both for us and for our customers." Now what Due to ongoing macroeconomic uncertainty related to the COVID-19 pandemic, Zuora is withdrawing its full-year guidance that it had previously issued in March. The company, which provides tools for other businesses to transition to a subscription model, did provide guidance for the second quarter. Revenue is expected to be $72.5 million to $75 million, compared to Wall Street's expectation of $74.5 million in sales. That should translate into an adjusted net loss per share of $0.07 to $0.08, roughly in line with the consensus estimate of $0.08 per share in adjusted net losses. 10 stocks we like better than ZuoraWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Zuora wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of June 2, 2020 Evan Niu, CFA has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Zuora. The Motley Fool has a disclosure policy.Source