HubSpot (HUBS) has recently released its first-quarter earnings and revenue, both of which surpassed analyst expectations. The company’s outlook for HubSpot stock was mixed, with profits exceeding expectations but revenue falling short.
Based in Cambridge, Massachusetts, HubSpot reported earnings of $1.68 per share on an adjusted basis, marking a 40% increase from the previous year. Additionally, the company saw a 23% increase in revenue, reaching $617.4 million. Analysts had projected earnings of $1.50 per share on sales of $598 million.
Despite the positive earnings report, HubSpot stock declined more than 2% to $576.01 in after-hours trading following the announcement. However, heading into the earnings announcement, HubSpot stock had risen 6% in 2024 and had increased by 38% over the past year. For the current quarter ending in June, HubSpot provided guidance of earnings per share of $1.63 at the midpoint and revenue of $618 million. Analysts had estimated adjusted earnings per share of $1.57 on revenue of $623 million.
HubSpot’s marketing strategy involves utilizing digital channels like blogs, search engines, and social media to attract visitors to customer websites and convert them into paying customers
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