Earnings Results: Five9 stock rises as earnings, record revenue beat expectations

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Five9 Inc. shares rose in extended trading after the company said Thursday that its second-quarter revenue climbed to a record high on the strength of subscription-revenue growth.

Shares of Five9 FIVN, +3.15% increased as much as 8% after hours, after finishing 3% higher in the regular session to close at $98.38. 

Chief Executive Rowan Trollope said in statement: “Despite the macro environment uncertainties, we continued to experience strong growth with second-quarter record bookings for both new logos and our installed base.”

The provider of cloud software for call centers reported a second-quarter net loss of $23.7 million, or 34 cents a share, compared with a net loss of $16.5 million, or 25 cents a share, in the year-ago period. Adjusted earnings were 34 cents a share, adjusted for stock-based compensation and other costs. Revenue rose to $189.4 million from $143.8 million in the year-ago quarter.

Analysts surveyed by FactSet had forecast earnings of 18 cents a share on revenue of $180.1 million.

Five9 expects adjusted third-quarter earnings of 31 cents a share to 33 cents a share on revenue of $192.5 to $193.5 million, while analysts had forecast earnings of 30 cents a share on revenue of $192.2 million.

For the full year, the company expects adjusted earnings of $1.38 a share to $1.40 a share on revenue of $780.5 million to $782.5 million. Analysts had forecast earnings of $1.23 a share on revenue of $772.2 million.

Shares of Five9 are down more than 28% year to date, while the S&P 500 index SPX, +1.21% has fallen nearly 15% so far this year.

This article was originally published by Marketwatch.com. Read the original article here.

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