HubSpot earnings and revenue for the March quarter beat analyst estimates as online marketing remained robust amid the coronavirus pandemic. HubSpot stock rose in extended trading on Wednesday as revenue guidance topped expectations.
Cambridge, Mass.-based HubSpot (HUBS) said adjusted first-quarter earnings came in at 31 cents a share. Revenue climbed 41% to $281.4 million, the maker of web marketing software said.
A year earlier, HubSpot earnings were 30 cents a share on sales of $199 million. Analysts expected HubSpot earnings of 29 cents on sales of $263.8 million for the period ended March 31.
HubSpot stock rose 1.4% to 510 during after-hours trading on the stock market today.
HubSpot Stock In Cup-With-Handle Base
Heading into the HubSpot earnings report, HubSpot stock had an entry point of 547.57 out of a cup-with-handle base. HubSpot stock moved into a buy zone for a few days in late April but retreated.
For the June quarter, the software maker forecast revenue of $295 million. Analysts projected sales of $278.3 million.
HubSpot’s marketing focuses on digital channels such as blogs, internet search engines and social media. The company aims to attract people to customer websites and optimize content so that visitors are converted into paying customers.
HubSpot stock had a Relative Strength Rating of 91 out of a best-possible 99 heading into the earnings report.
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