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HubSpot, Inc. (NYSE:HUBS) posted upbeat results for its first quarter, but issued soft second-quarter revenue guidance.
HubSpot posted adjusted earnings of $1.68 per share, beating estimates of $1.50 per share. The company's quarterly sales came in at 617.400 million versus expectations of $597.580 million, according to data from Benzinga Pro.
“We kicked off the year with solid revenue growth and another good quarter of operating margin expansion. Customers across all segments are consolidating on HubSpot because it is easy to use, easy to scale and delivers fast time to value,” said Yamini Rangan, Chief Executive Officer at HubSpot. “While the macro environment remains challenging, the pace of innovation has accelerated in our industry with AI. We are setting that pace for scaling companies and are becoming the de facto standard which gives me confidence in our ability to drive long-term durable growth.”
The company said it sees second-quarter adjusted EPS of $1.62 to $1.64, versus estimates of $1.57. It expects revenue of $617 million to $619 million versus expectations of $623.04 million.
HubSpot said it sees FY24 adjusted EPS of $7.30 to $7.38, versus estimates of $6.97. The company expects revenue of $2.55 billion to $2.56 billion, versus expectations of $2.56 billion.
HubSpot shares fell 4.1% to close at $590.05 on Wednesday.
These analysts made changes to their price targets on HubSpot following earnings announcement.
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Posted In: HUBS
