Five9 shares fall 15% after disappointing outlook
Shares of Five9 Inc. fell in Wednesday’s extended session after the cloud contact center software company’s outlook fell short of Wall Street expectations.
shares fell more than 15% after hours, after falling 8.9% in the regular session to close at $104.14, their lowest close since June 24, 2020.
The company expects earnings of 12 to 14 cents per share on revenue of $170 million to $171 million for the first quarter, and $1.12 to $1.16 per share on revenue of 754.5 to 757.5 million dollars for the year.
Analysts polled by FactSet had estimated earnings of 22 cents per share on revenue of $170.5 million for the first quarter and $1.14 per share on revenue of $748.4 million for the year. .
The company posted a loss of $3.6 million, or 5 cents per share, in the fourth quarter, compared with a loss of $7.2 million, or 11 cents per share, a year ago.
Adjusted earnings, which exclude stock-based compensation expense and other items, were 42 cents per share, compared with 34 cents per share a year ago. Revenue increased from $173.6 million to $127.9 million in the prior year quarter.
Analysts had expected earnings of 36 cents per share on revenue of $165.4 million.