What happened
Shares of marketing software company HubSpot (HUBS +7.51%) jumped on Thursday, rising 10.5% as of 1:55 p.m. EDT.
The tech stock's gain follows HubSpot's second-quarter earnings release. Shares are likely trading higher because the company beat expectations for its top and bottom line. In addition, management lifted its view for the full year.
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So what
HubSpot reported second-quarter revenue of $203.6 million, up 25% from the year-ago period. Non-GAAP (adjusted) earnings per share for the period was $0.34, up from $0.31 in the year-ago period.
Analysts, on average, were expecting revenue of $195.6 million and non-GAAP earnings per share of $0.24.
"The world is evolving this year -- from offline to online, from old to new -- at a far greater pace than anyone could have expected," said HubSpot CEO Brian Halligan in the company's second-quarter earnings release. "At HubSpot, we feel well positioned to help companies navigate that change and come out stronger on the other side."
Now what
The company's third-quarter guidance was also impressive. Management said it expected third-quarter revenue to be between $210 million and $211 million. On average, analysts were expecting third-quarter revenue of $200.45 million. Notably, this guidance factors in "heightened uncertainty caused by the COVID-19 pandemic," management said.
