HubSpot’s (NYSE: HUBS) second quarter 2019 earnings and revenue beat consensus estimates. The company also lifted its earnings and revenue outlook for fiscal 2019. HubSpot stock was trading up about 7% in the extended hours of trading.
Non-GAAP net income was $17.6 million, or $0.37 per share, compared to $7.4 million, or $0.18 per share in the second quarter of 2018. Revenue soared 33% year-over-year to $163 million. Analysts had expected HubSpot to report earnings of $0.25 per share on revenue of $157.26 million.
The Cambridge, Massachusetts-based firm GAAP net loss was $17.4 million, or $0.41 per share, compared to a loss of $18.2 million, or $0.48 per share in Q2 2018.
The company lifted its outlook for fiscal 2019. Adjusted EPS is now expected to be in the range of $1.39 to $1.41 versus the prior guide of $1.26 to $1.30. Revenue for 2019 is now expected to be between $663 million and $665 million compared to the previous outlook range of $655.5 million to $658.5 million.
For the third quarter of 2019, HubSpot expects adjusted EPS to be in the range of $0.22 to $0.24 and revenue is projected to be in the range of $168 million to $169 million.
HubSpot grew total customers to 64,836 at June 30, 2019, up 35% from June 30, 2018. Total average subscription revenue per customer was $9,913 during the second quarter of 2019, down 1% compared to the prior-year quarter.
HubSpot stock has gained 31% since the beginning of this year and had dropped 9% in the past three months.
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