Why HubSpot Rallied on a Down Day for Tech Stocks
Shares of HubSpot (NYSE: HUBS) rallied today, up 4.8% as of 12:40 p.m. ET, even though the broader technology sector as exemplified in the Nasdaq Composite was down more than 1% at that time.
The reason? It's earnings season, and HubSpot just posted one of its customary beats relative to analyst expectations.
In the second quarter, HubSpot posted 35.7% revenue growth, as well as non-GAAP (adjusted) earnings per share of $0.44, with both figures beating analyst expectations. HubSpot's customer count grew 25% relative to last year, while the average annual subscription paid grew 10%, perhaps an indication of either pricing power or the ability to upsell customers to new modules.
Source Fool.com
