HubSpot clears Wall Street’s bar on earnings and its stock moves higher

HubSpot Inc.’s stock HUBS, +0.97% was moving more than 6% higher in Wednesday’s late trading after the cloud-based-software company for customer relationship management topped expectations with its latest results and profit outlook. The company generated a third-quarter net loss of $5.5 million, or 11 cents a share, compared with a loss of $31.4 million, or 65 cents a share, in the same period a year earlier. On an adjusted basis, HubSpot logged earnings per share of $1.

Revenue jumped to $557.6 million from $444.0 million, while analysts were looking for $534.1 million. “Our easy-to-use, easy-to-scale connected customer platform is deeply resonating with as they look to optimize spend and boost productivity in this challenging environment,” Chief Executive Yamini Rangan said in a release. For the fourth quarter, HubSpot expects $556 million to $558 million in revenue, along with $1.53 a share to $1.55 a share in adjusted earnings.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Uber notches earnings beat but comes up short on the top lineEmily Bary is a MarketWatch news editor based in New York.
Source: MarketWatch - 🏆 3. / 97 Read more »

Datadog’s stock rockets as earnings, forecast blow past estimatesEmily Bary is a MarketWatch news editor based in New York.
Source: MarketWatch - 🏆 3. / 97 Read more »

Snowflake, MongoDB shares rally sharply after Datadog earningsEmily Bary is a MarketWatch news editor based in New York.
Source: MarketWatch - 🏆 3. / 97 Read more »