Why Shares of Five9 Zipped 13% Higher This Morning
Shares of cloud computing firm Five9 (NASDAQ: FIVN) were up 13% this morning as of 11:45 a.m. EST. The contact-center software provider updated investors on third-quarter 2021 earnings, and the numbers exceeded expectations. Revenue was $154 million (up 38% year over year), and adjusted earnings per share were $0.28 (up 3.7%).
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Even after the rally this morning, Five9 stock remains in negative territory for 2021, down nearly 6% for the year thus far. The stock is still on the mend following the scrapped merger with fellow cloud-based communications firm Zoom Video Communications (NASDAQ: ZM) a few months ago. Five9 shareholders rejected the bid, instead opting to go it alone because of the huge opportunity still out there as large businesses around the world migrate their operations over to a more modern contact-center platform.
Source Fool.com
