Why Five9 Stock Is Rising Today
Call center expert Five9 crushed its fourth-quarter report, but the bullish update was hamstrung by an unexpected management departure.
Cloud-based contact center specialist Five9 (NASDAQ: FIVN) reported fourth-quarter results on Thursday evening. The company breezed past Wall Street's estimates across the board, and the stock opened Friday's trading session 19.7% higher.
But there's more to the Five9 story, and the stock is only up by 5.2% at 11:30 a.m. ET.
Five9's fourth-quarter revenues rose 16.6% year over year to $279 million. Your average analyst would have settled for approximately $267 million. On the bottom line, adjusted earnings jumped from $0.61 to $0.79 per diluted share. Here, the analyst consensus stopped at $0.70 per share.
