In trading on February 12, HubSpotInc’s (NYSE: HUBS) share price soared 16% to reach $502.4. The main driver for the growth was the quarter report generated double-digit revenue growth.
The fourth-quarter revenue for HubSpot increased 35% to $252 million on the back of higher subscription revenues. The company’s main business is this one, which brought in $ 244 million in the past quarter. Based on adjusted earnings per share for the last quarter, $ 0.4 was earned per share.
The number of HubSpotInc (HUBS) customers increased by over 100,000 during the fourth quarter, and the company reached its revenue target of $1 billion in the December quarter.
Providing customers with unified customer experiences through marketing platforms is HubSpot’s goal. By implementing such solutions, the company improves the quality of its service and communication with its customers.
Sales have increased for HubSpotInc (HUBS) over the past quarters because of intense competition in all business areas. Therefore, marketing analytics has become more important for users to communicate more effectively. The COVID-19 pandemic also forced numerous small and medium-sized businesses to turn to the Internet to stay in business and expand their customer bases.
A growing number of HubSpot customers are switching to the company’s services. They also sell customer relationship management solutions in addition to selling Digital Marketing Platform services. The HubSpot platform can be tightly integrated with IT systems that enable sales, marketing, accounting, and much more to be integrated into a single operation.
HubSpotInc (HUBS) predicts that in 2021, revenue will range between US$ 1.16 billion and US$ 1.17 billion. Revenue is expected to range from $ 260 million to $ 265 million for the first quarter of 2021.
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