Hubspot Rises After First Quarter Earnings and Revenue Beat Estimates
By Sam Boughedda
Investing.com -- HubSpot Inc (NYSE: HUBS ) stock rose 8.5% on Friday, one of the day's few gainers. The company posted earnings after the close Thursday, beating analyst expectations.
The developer and marketer of software products posted adjusted earnings of 54 cents per share on revenue of $395.6 million. This was above the 47 cents per share on revenue of $382.99 million expected by analysts polled by Investing.com.
The company grew its customers to 143,689 at the end of March, up 26% from March 31, 2021. Average subscription revenue per customer was $11,030 during the first quarter, up 12% compared to the previous year.
"Despite uncertainty in the world, we remained resilient and committed to empowering our customers to grow their businesses. I'm particularly excited about the Service Hub relaunch and the robust new features we introduced to help customers deliver even more exceptional service," commented Yamini Rangan, CEO at HubSpot.
In the second quarter, Hubspot sees revenue in the range of $409 million to $410 million, with adjusted net income per share between 42 cents and 44 cents.
For 2022 it expects revenue to come in between $1.722 billion to $1.728 billion, with adjusted net income per share between $2.40 to $2.42.
"Looking ahead, 2022 is a year of focus and consistency. We will continue to execute on our key strategy priorities and solve for our customers," concluded Rangan.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.
Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb
Drop an image here or