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Hubspot soars 20% as earnings surge past expectations and revenue outlook strengthens (HUBS)
Summary List PlacementHubspot stock surged 20% early Friday, fueled by better-than-anticipated fourth-quarter results from the marketing and sales software developer and revenue outlooks that surpassed Wall Street's targets. The cloud-based software platform posted fourth-quarter total revenue of $252.1 million, better than the consensus of $236.4 million, according to an estimate from Zacks. It also marked an improvement from $186.2 million a year ago. Adjusted earnings were $0.40 per share, zipping past expectations of $0.23 per share. A year ago, adjusted earnings were $0.38 per share. Subscription revenue climbed by 36% to $244.3 million during the quarter ended December 31. In noting milestones for the company, CEO Brian Halligan said Hubspot surpassed 100,000 total customers during the quarter and crossed $1 billion in annual recurring revenue in December. For the first quarter of 2021, the company forecast total revenue of $260 million to $265 million versus expectations of $247.6 million. It also foresees adjusted earnings of $0.28 to $0.30. Analysts were looking for $0.29 per share. Hubspot's full-year 2021 revenue forecast came in at $1.16 billion to $1.17 billion, higher than Wall Street's projection of $1.07 billion. Hubspot stock jumped 20% to trade above $525. It has gained about 9% during the year and has more than doubled over the past 12 months.Join the conversation about this story » NOW WATCH: We tested a machine that brews beer at the push of a button
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