Why HubSpot Stock Rocketed Higher Thursday Morning
Shares of HubSpot (NYSE: HUBS) turned sharply higher on Thursday, surging as much as 14.8%, even as the broader market slumped. As of 11:22 a.m. ET, the stock was still up 13.8%.
The catalyst that sent the customer relationship management (CRM) specialist roaring higher was its quarterly earnings report, which was far better than investors expected.
For the third quarter, HubSpot generated revenue of $444 million, up 31% year over year, which would have been up 38% in constant currency. This resulted in adjusted earnings per share (EPS) of $0.69. The company also generated free cash flow of $35.5 million.
Source Fool.com
