A 1.36% revenue beat. A 16.17% pre-market move.
$RNG reported Q3 after yesterday's close. Revenue came in at $676.04M against $666.96M expected. EPS was $1.33 against $1.27. Subscription revenue grew 6% to $652.94M. It is a clean beat, and a narrow one.
Those numbers explain the direction of the move, not its size. The feed carries no guidance line, so whatever the move is paying for beyond those decimals is not in the headline you just read.
Cross-stock history for earnings-day opening gap-ups of 15% or more, on stocks priced $1 and up, covers 383 prior sessions. 47% closed above their open and 52% closed below. The median open-to-close return was -0.25%.
That is close to a coin flip, and it is measured from the open, not from last night's close.