HubSpot’s (NYSE: HUBS) second quarter 2019 earnings and revenue beat consensus estimates. The company also lifted its earnings and revenue outlook for fiscal 2019. HubSpot stock was trading up about 7% in the extended hours of trading.
Non-GAAP net income was $17.6 million, or $0.37 per share, compared to $7.4 million, or $0.18 per share in the second quarter of 2018. Revenue soared 33% year-over-year to $163 million. Analysts had expected HubSpot to report earnings of $0.25 per share on revenue of $157.26 million.
The Cambridge, Massachusetts-based firm GAAP net loss was $17.4 million, or $0.41 per share, compared to a loss of $18.2 million, or $0.48 per share in Q2 2018.
The company lifted its outlook for fiscal 2019. Adjusted EPS is now expected to be in the range of $1.39 to $1.41 versus the prior guide of $1.26 to $1.30. Revenue for 2019 is now expected to be between $663 million and $665 million compared to the previous outlook range of $655.5 million to $658.5 million.
For the third quarter of 2019, HubSpot expects adjusted EPS to be in the range of $0.22 to $0.24 and revenue is projected to be in the range of $168 million to $169 million.
HubSpot grew total customers to 64,836 at June 30, 2019, up 35% from June 30, 2018. Total average subscription revenue per customer was $9,913 during the second quarter of 2019, down 1% compared to the prior-year quarter.
HubSpot stock has gained 31% since the beginning of this year and had dropped 9% in the past three months.
Last month, the IPO market was in a full swing. IPOs of Snowflake (NYSE: SNOW) and JFROG (NASDAQ: FROG) had an impressive opening day in September, the former creating a
PepsiCo Inc. (NASDAQ: PEP) beat market expectations on both revenue and earnings for the third quarter of 2020. The company saw the momentum continue in its snacks business while the
With more and more people turning to virtual entertainment sources, amid the virus-related movement restrictions, video game publishers like Electronic Arts (NASDAQ: EA) are witnessing unusually high demand. Not surprisingly,