Five9 Shares Tumble 12% on Lower 2022 Outlook, 4Q Forecast

Dow Jones2022-11-08

Five9 Inc. shares tumbled 12% to $41.3 in after-hours trading Monday after the company lowered its 2022 outlook and issued fourth quarter guidance below estimates.

The cloud contact center software provider forecast revenue between $774.5 million to $775.5 million and adjusted earnings between $1.35 to $1.37 a share. It previously guided for revenue between $780.5 million to $782.5 million and adjusted earnings between $1.38 to $1.40 a share.

The company also issued its outlook for the fourth quarter, calling for revenue between $204 million to $205 million and adjusted earnings between 40 cents to 42 cents a share. Analysts polled by FactSet expected $215.9 million and adjusted earnings of 51 cents a share.

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