Why Five9 Stock Plunged Today
FIVNFive9(FIVN) The Motley Fool·2024-02-23 07:08

Shares of Five9 (FIVN -13.41%) fell 13.4% on Thursday after the cloud contact center platform provider's weak forward guidance overshadowed otherwise-strong fourth-quarter 2023 results. Five9 ended 2023 on a strong note Five9's fourth-quarter 2023 revenue grew 15% year over year to 239.1million,translatingtoadjusted(nonGAAP)netincomeof239.1 million, translating to adjusted (non- GAAP) net income of 45.1 million, or 0.61pershare.Analysts,onaverage,wereonlyexpectingearningsof0.61 per share. Analysts, on average, were only expecting earnings of 0.49 per share on revenue of $238 million. Five9 Chairman and CEO Mike Bu ...