LivePerson (NASDAQ: LPSN) reported Q1 EPS of ($0.41), $0.20 worse than the analyst estimate of ($0.21). Revenue for the quarter came in at $78.1 million versus the consensus estimate of $77.09 million.

"The COVID crisis was a wake up call that the legacy call center model is a relic and incapable of supporting a remote from home workforce," said LivePerson CEO and founder, Rob LoCascio. "Whereas the corporate world turned to video conferencing applications to support office workers, LiveEngage is filling the void for the contact center. We are seeing Conversational Commerce adoption trends accelerate with many of our customers, and a new normal is emerging where brands are leading with AI-powered messaging built and managed by work from home agents. Clearly, there are macro-environmental risks to navigate, but our vision is more relevant than ever, and we are well positioned to come through this crisis a stronger company."

"LivePerson is executing well in a world that has changed rapidly over the past several weeks, and our resilient and agile business model has enabled us to deliver strong performance despite a challenging environment," added CFO John Collins. "Furthermore, our ability to deploy automations internally and to capture cost efficiencies is accelerating our path to profitability and cash generation, even as we continue to invest in our core growth drivers of AI, sales capacity and product innovation. This investment rigor is securing our leadership in Conversational AI, a view that has been validated in recent months by the numerous accolades we have received from esteemed firms such as Forrester and Fast Company."

GUIDANCE:

LivePerson sees Q2 2020 revenue of $83-85 million, versus the consensus of $81.6 million.

LivePerson sees FY2020 revenue of $340-355 million, versus prior of $350-$355 million and the consensus of $343.29 million.

For earnings history and earnings-related data on LivePerson (LPSN) click here.