Five9 Inc. shares dropped in the extended session Wednesday after the cloud contact-center software company’s outlook fell short of Wall Street expectations.
Five9
FIVN,
shares fell more than 15% after hours, following an 8.9% drop in the regular session to close at $104.14, their lowest close since June 24, 2020.
The company forecast earnings of 12 cents to 14 cents a share on revenue of $170 million to $171 million for the first quarter, and $1.12 to $1.16 a share on revenue of $754.5 million to $757.5 million for the year.
Analysts surveyed by FactSet had estimated earnings of 22 cents a share on revenue of $170.5 million for the first quarter, and $1.14 a share on revenue of $748.4 million for the year.
The company reported a fourth-quarter loss of $3.6 million, or 5 cents a share, compared with a loss of $7.2 million, or 11 cents a share, in the year-ago period.
Adjusted earnings, which exclude stock-based compensation expenses and other items, were 42 cents a share, compared with 34 cents a share in the year-ago period. Revenue rose to $173.6 million to $127.9 million in the year-ago quarter.
Analysts had forecast earnings of 36 cents a share on revenue of $165.4 million.
This post was originally published on Market Watch
