Why HubSpot Stock Blasted 7% Higher on Thursday
Not for the first time, (NYSE: HUBS) stock raced higher Thursday following the delivery of a well-received earnings report. The marketing software specialist enjoyed a more than 7% lift to its share price on Thursday, far outpacing the S 500 index, which slumped by nearly 1%.
Happily for HubSpot and its shareholders, the company crushed first-quarter earnings, and on top of that provided better-than-expected guidance.
The niche tech company booked revenue of nearly $502 million, which was a solid 27% higher on a year-over-year basis. Of its two key revenue streams, the larger -- subscriptions -- rose by the same percentage to hit almost $490 million. Professional services and other revenue combined advanced at a 12% clip.
Source Fool.com
