Why Freshworks Stock Soared Almost 19% Higher on Wednesday

Enterprise software company Freshworks (NASDAQ: FRSH) easily surmounted Hump Day with a solid performance on the stock exchange.

The company's shares rose by nearly 19% in price, thanks to an estimates-trouncing performance in its freshly reported second quarter. This stock price leap was particularly impressive given that the mood on the exchange was generally grim, with the S 500 index dipping by 1.4% on the day.

Those results actually came out on Tuesday after market hours. According to them, Freshworks' revenue was 19% higher on a year-over-year basis at just over $145 million. More impressively, the specialty tech company flipped to a profit on the bottom line, with non-GAAP (adjusted) net income coming in at $19.8 million ($0.07 per share) against the year-ago loss of $17.6 million.

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Source Fool.com