Five9 stock rallies 7% after cloud company's Q3 sales up 34%
Shares of Five9 Inc. (FIVN) rose more than 7% in the extended session Thursday after the cloud software provider reported third-quarter adjusted earnings and sales that topped Wall Street views. Separately, the company said it had agreed to buy Inference Solutions, a "leading" virtual-agent platform. Five9 said it lost $11.4 million, or 17 cents a share, in the quarter, compared with a loss of $1.6 million, or 3 cents a share, in the year-ago quarter. Adjusted for one-time items, the company earned $18.5 million, or 27 cents a share, compared with $12.8 million, or 20 cents a share, a year ago. Sales rose 34% to a "record" $112 million, the company said. Analysts polled by FactSet had expected adjusted earnings of 18 cents a share on sales of $101 million. The deal to buy Inference Solutions is expected to close by Jan. 5, the company said. Terms were not disclosed. Shares of Five9 ended the regular trading day down 0.2%.
-Claudia Assis; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
October 29, 2020 17:02 ET (21:02 GMT)
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