US3383071012 - Common Stock
Shares of call center software provider Five9 (NASDAQ: FIVN) jumped 24.7% in the morning session after the company reported strong third-quarter earnings. Five9 blew past analysts' sales, EBITDA, and EPS expectations. Notably, subscription revenue growth accelerated 20% year-over-year, driven by the strong uptake of its AI solutions, which increased customer acquisition and expanded the average revenue per user. The company is focused on accelerating subscription revenue, which is mostly recurring, leading to lower customer acquisition costs upon renewal in subsequent years. Consequently, this translates to higher profit margins.
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Call center software provider Five9 (NASDAQ: FIVN) reported revenue ahead of Wall Street’s expectations in Q3 CY2024, with sales up 14.8% year on year to $264.2 million. Guidance for next quarter’s revenue was optimistic at $267.5 million at the midpoint, 2.4% above analysts’ estimates. Its non-GAAP profit of $0.67 per share was also 15.1% above analysts’ consensus estimates.
Call center software provider Five9 (NASDAQ: FIVN) will be reporting results tomorrow after market hours. Here’s what investors should know.
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