HubSpot Spikes 13% On Strong Earnings Beat

HubSpot Inc HUBS closed Friday up 13% at $380.85 per share following a big third-quarter earnings beat.

HubSpot reported quarterly earnings of 30 cents per share, which beat the analyst consensus estimate of 13 cents by 130%. The company reported quarterly sales of $228.40 million, which beat the analyst consensus estimate of $210.75 million by 8.37%. This is a 31.55% increase over sales of $173.62 million in the same period last year.

The company also raised fourth-quarter adjusted EPS to 21-23 cents versus an 18-cent estimate, with sales of $235-$237 million versus a $217.9 million estimate.

HubSpot provides a cloud-based marketing, sales, and customer service software platform referred to as the growth platform. The applications are available ala carte or packaged together.

HubSpot's mission is to help companies grow better and has expanded from its initial focus on inbound marketing to embrace marketing, sales, and service more broadly. The company was founded in 2006, completed its IPO in 2014, and is headquartered in Cambridge, Massachusetts.