- Wednesday, October 16, 2024
Shares of LivePerson experienced a significant boost as the company reported an unexpected profit in the second quarter. The stock surged by 26%, reaching $5.02 during mid-day trading, despite a 51% decline year-to-date.
Based in New York, LivePerson specializes in conversational artificial intelligence. The company recently announced a second-quarter profit of $10.82 million, equivalent to 12 cents per share. This figure exceeded analysts' expectations of a loss of 38 cents per share, according to FactSet.
While LivePerson's revenue dropped to $97.5 million, it still exceeded analysts' forecast of $96.9 million. FactSet has provided these statistics.
Following the release of its Q2 results, LivePerson updated its full-year guidance range. The company now anticipates adjusted earnings ranging from $19 million to $32 million, compared to its previous projection of $15 million to $32 million. FactSet analysts have predicted adjusted earnings of $26.9 million.
Regarding full-year revenue, LivePerson revised its estimate to be between $388 million and $400 million, compared to the previous range of $387 million to $401 million.
LivePerson also made an important leadership announcement on Tuesday. John Collins, the current Finance Chief, will assume the additional role of interim Chief Executive as CEO Robert LoCascio steps down.
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