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HubSpot, Inc. (NYSE:HUBS) shares are trading higher after the company reported its second-quarter financial results Wednesday. Here's a look at the key figures from the report.
The Details: HubSpot reported quarterly earnings of $2.03 per share, which beat the analyst consensus estimate of $1.63 by 24.54%. Quarterly sales clocked in at $637.2 million, which beat the analyst consensus estimate by 2.87% and represents a 20.42% increase from the same period last year.
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HubSpot’s customers grew 23% year-over-year to 228,054 as of June 30, 2024, and average subscription revenue per customer was $11,215 during the second quarter of 2024, down 2% compared to the second quarter of 2023.
Total subscription revenue was $623.8 million, up 20% year-over-year, and professional services and other revenue was $13.5 million, up 18% year-over-year.
“Q2 was another solid quarter of revenue growth and profitability driven by our rapid pace of innovation and consistent execution,” said Yamini Rangan, CEO of HubSpot.
“I am thrilled to see customers consolidating on HubSpot and the momentum we have in becoming the customer platform of choice for scaling companies. We run our business for the long-term and are focused on solving for our customers, innovating our platform, and prioritizing strong execution. That has been and will continue to be our priority. And it will continue to set us apart to drive durable growth and create long term shareholder value.”
Outlook: HubSpot sees third-quarter revenue in a range of $646 million to $647 million, versus the $646.69 million estimate, and earnings of between $1.89 and $1.91 per share, versus the $1.89 estimate. The company sees full-year revenue in a range of $2.567 billion to $2.573 billion, versus the $2.56 billion estimate, and earnings of between $7.64 and $7.70 per share, versus the $7.36 estimate.
HUBS Price Action: According to Benzinga Pro, HubSpot shares are up 7.22% after-hours at $494 at the time of publication Wednesday.
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Image: Courtesy of HubSpot, Inc.
Posted In: HUBS
