SAN RAMON, Calif. - Five9, Inc. (NASDAQ:FIVN) shares surged 15% in after-hours trading on Thursday after the cloud contact center software provider reported third-quarter results and guidance that exceeded analyst expectations.
The company posted adjusted earnings per share of $0.67, beating the consensus estimate of $0.59. Revenue rose 15% year-over-year to $264.2 million, surpassing analysts' projections of $255.2 million.
Five9's subscription revenue, a key metric, grew 20% compared to the same period last year.
"We are very pleased to report strong third quarter results, which exceeded our guidance across all key metrics," said Mike Burkland, Chairman and CEO of Five9. He highlighted the company's AI-powered platform as a driver of growth, stating it is "at the forefront of enabling a hyper-personalized experience, continuous engagement, and seamless customer journeys."
Looking ahead, Five9 raised its full-year 2024 outlook. The company now expects revenue between $1.03 billion and $1.031 billion, up from its previous forecast and above the $1.015 billion consensus. Adjusted EPS guidance was also increased to a range of $2.36 to $2.38, topping analysts' expectations of $2.27.
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