HubSpot’s (NYSE:HUBS) shares experienced a surge of over 2% pre-market today, following the company’s fourth-quarter report which exceeded Wall Street’s earnings and revenue expectations.
The company announced earnings per share (EPS) of $1.83, surpassing the consensus estimate of $1.54. It reported a revenue of $581.9 million, exceeding analyst predictions of $558.46 million. Subscription revenue for the quarter increased by 24% year-over-year to $570.2 million. Additionally, HubSpot saw its non-GAAP operating margin rise to 16.9% in the fourth quarter, an improvement from 13.6% in the corresponding period the previous year.
Looking ahead to the first quarter of 2024, HubSpot is forecasting an EPS range of $1.48 to $1.50, closely aligning with the anticipated $1.49. The company expects revenue to fall between $596 million and $598 million, surpassing the consensus estimate of $587.3 million.
For the entire year of 2024, HubSpot is projecting an EPS between $6.86 and $6.94, outdoing analyst predictions of $6.62. The company’s forecast for full-year revenue is between $2.55 billion and $2.56 billion, exceeding the expected $2.53 billion.