Five9 plunges as Q4 tops expectations, Q1 forecast in-line
Call center technology pioneer Five9 this afternoon reported Q4 revenue and profit that that both surpassed Wall Street's expectations, but an outlook for revenue for the current quarter that was merely in line with consensus.
The company's forecast for the full year's revenue was above consensus.
The report sent Five9 shares down 15% in late trading.
CEO and Rowan Trollope said the company was "pleased to report that we finished the year with excellent results for the fourth quarter."
Said Trollope, "Our results were driven by the growing market adoption of our AI and Automation offerings, in addition to the success we have made in our march up market, as prospective enterprise customers turn to Five9 for the reliable and innovative platform we have built as a company.
Added Trollope, "We continue to build out our leadership position while delivering on a massive and barely penetrated opportunity, and we plan to continue investing in key strategic initiatives around AI, product innovation, traction with larger enterprises and global expansion to drive growth in the year ahead."
Revenue in the three months ended in December rose 36%, year over year, to $173.6 million, yielding a net profit of 42 cents a share, excluding some costs.
Analysts had been modeling $165.4 million and 36 cents per share.
For the current quarter, the company sees revenue of $170 million to $171 million, and EPS in a range of 12 cents to 14 cents. That compares to consensus for $170.5 million and a 22-cent profit per share.
For the full year, the company sees revenue in a range of $754.5 million to $757.5 million, and EPS of $1.12 to $1.16. That compares to consensus of $748.4 million and a $1.14 profit per share.