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HubSpot (HUBS) Tops Q1 EPS by 16c; President Stepping Down

May 6, 2020 4:13 PM EDT

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HubSpot (NYSE: HUBS) reported Q1 EPS of $0.39, $0.16 better than the analyst estimate of $0.23. Revenue for the quarter came in at $199 million versus the consensus estimate of $191.52 million.

"We came into 2020 strong with the relaunch of our Marketing Hub Enterprise and a new CMS product line. While the global economic situation shifted with the onslaught of the COVID-19 health crisis and created some headwinds for us, we feel well positioned to weather this storm," said Brian Halligan, co-founder and CEO. "Our primary focus now is on doing what we can to help our customers and partners bend, not break, in the face of these tough times."

The company also announced today that JD Sherman, its President and Chief Operating Officer, will be stepping down from his position as of July 1, 2020 but will remain with the Company through January 4, 2021 to ensure a smooth transition of his duties.

"JD has been instrumental in HubSpot's global growth, and he\'s had a tremendous impact in helping our customers, partners, and employees grow better. He will surely be missed at HubSpot, but we look forward to rooting for him on his next adventure," said Halligan. "On behalf of HubSpot, the Board of Directors, and our employees, I want to thank JD for his significant contributions in helping us build a company our grandkids will be proud of."

"My time at HubSpot has been nothing short of amazing, and I\'m grateful to have been a part of the Company's journey and growth over the past eight years," said Sherman. \"It\'s the right time - both for me personally and because the team is so strong and well positioned right now. I\'ll be proud to see them lead HubSpot\'s next chapter of growth."

GUIDANCE:

HubSpot sees Q2 2020 EPS of $0.23-$0.25, versus the consensus of $0.23. HubSpot sees Q2 2020 revenue of $195-196 million, versus the consensus of $198 million.

HubSpot sees FY2020 EPS of $0.88-$0.92, versus the consensus of $1.12. HubSpot sees FY2020 revenue of $800-810 million, versus the consensus of $817.8 million.

For earnings history and earnings-related data on HubSpot (HUBS) click here.



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