HubSpot (HUBS) exceeded analyst estimates in its first-quarter earnings and revenue report. The company’s stock outlook was mixed, with profit above expectations but revenue below. On an adjusted basis, HubSpot reported earnings of $1.68 a share, up 40% from the previous year. Revenue increased by 23% to $617.4 million compared to earnings of $1.20 a share and revenue of $502 million in the same quarter the previous year.

HubSpot, based in Cambridge, Massachusetts, released its March-quarter earnings after the market closed on Wednesday. Despite seeing an increase in shares earlier in 2024 and over the past year, HubSpot’s stock fell more than 2% to $576.01 in extended trading following the earnings report. The company forecasts earnings per share of $1.63 at the midpoint of guidance for the current quarter ending in June and revenue of $618 million, which is below analysts’ expectations of adjusted EPS of $1.57 on revenue of $623 million for the same period.

HubSpot’s marketing strategy involves utilizing digital channels such as blogs, internet search engines, and social media to attract people to customer websites and convert visitors into customers. According to IBD Stock Checkup, HUBS stock had a Relative Strength Rating of 85 out of a best-possible 99 heading into the earnings report. If you are interested in learning more about trading options or want access to valuable resources such as premium stock lists, tools, analysis, ETF Market Strategy, or “Breaking Out Today” list for companies hitting new buy points, check out IBD’s website today!