Shares of LivePerson Inc. (NASDAQ:LPSN) jumped on Friday following the cloud-based chat software company's first-quarter report. LivePerson beat out analyst estimates across the board, registering its best revenue growth in years. The stock was up about 9.6% at 3:45 p.m. EDT Friday.
LivePerson reported first-quarter revenue of $58.2 million, up 14% year over year and about $1 million higher than the average analyst estimate. Revenue from business operations rose 15% to $53.6 million, while revenue from consumer operations jumped 12% to $4.7 million. The company signed 98 deals during the quarter, up 32% year over year.
Non-GAAP earnings per share came in at $0.01, flat compared to the first quarter of 2017 and $0.01 better than analysts were expecting. The company lost $0.06 per share on a GAAP basis, an improvement over the $0.10 per-share loss it reported in the prior-year period.
"It is extremely rewarding to see our investments in LiveEngage, our go-to-market strategy, and our development capabilities pay off and translate into renewed double-digit growth," said LivePerson CEO Rob LoCascio.
For the second quarter, LivePerson expects revenue between $59 million and $60 million, along with a non-GAAP net profit between break-even and $0.01 per share. The company reported revenue of $54.1 million and non-GAAP EPS of $0.01 in the second quarter of 2017.
For the full year, LivePerson sees revenue between $239 million and $243 million, and non-GAAP earnings per share between $0.11 and $0.15. Both ranges are higher than the company's previous 2018 guidance.
After suffering through a long stretch of revenue declines and otherwise sluggish revenue growth, LivePerson shareholders finally have something to celebrate.