LivePerson (NASDAQ:LPSN) earnings for first quarter of 2020 have LPSN stock surging higher on Wednesday. This comes after reporting adjusted losses per share of 57 cents, which is worse than Wall Street’s estimate of 21 cents. However, the AI conversation company’s revenue of $78.09 million beats out analysts’ estimates of $77.09 million.
Let’s take a closer look at LivePerson’s most recent earnings report below.
- Adjusted per-share losses are 355.6% worse than the 6 cents in the same period of the year prior.
- Revenue for the quarter comes in 17.6% higher compared to $66.4 million in the first quarter of 2019.
- Operating loss of -$33.19 million is 80.8% worse year-over-year than -$18.36 million.
- The LivePerson earnings report also has it bringing in a net loss of $37 million.
- That’s a 95.9% wider net loss than the $18.89 million reported during the same time last year.
John Collins, CFO of LivePerson, said this about the Q1 earnings report:
“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. 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.”
LivePerson also provides a guidance update in the Q1 earnings report. It expects revenue of $340 million to $355 million for 2020. Wall Street’s estimate is for revenue of $343.29 million.
LPSN stock was up 38.1% as of Wednesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.