Five9 Inc. shares dropped in the extended session Monday even after the cloud software company’s revenue forecast for the current quarter was light while results topped Wall Street estimates. Five9
shares fell as much as 10% after hours, following a 1.5% gain in the regular session to close at $81.66.
Five9 forecast earnings of 42 cents to 44 cents a share on revenue of $223.5 million to $224.5 million for the third quarter, and $1.79 to $1.83 a share on revenue between $908 million to $910 million for the year. Analysts surveyed by FactSet had estimated 43 cents a share on revenue of $228.2 million for the third quarter, and $1.77 a share on revenue of $909.1 million for the year. The company reported a second quarter loss of $21.7 million, or 30 cents a share, compared with a loss of $23.7 million, or 34 cents a share, in the year-ago period. Adjusted earnings, which exclude stock-based compensation expenses and other items, were 52 cents a share, compared with 34 cents a share in the year-ago period. Revenue rose to $222.9 million from $189.4 million in the year-ago quarter. Analysts had forecast 39 cents a share on revenue of $214.7 million. “We experienced a particularly str …