Freshworks forecasts third-quarter revenue above estimates as AI drives strong demand
Adds stock movement in paragraph 1
By Jaspreet Singh
July 30 (Reuters) -Software firm Freshworks FRSH.O forecast third-quarter revenue above Wall Street estimates on Tuesday, expecting a surge in demand for its AI-powered services, sending its shares up 12.6% in extended trading.
Enterprise clients turn to Freshworks for its integrated platform that helps them manage customer interactions, sales and support, thereby reducing dependency on multiple products.
The San Mateo, California-based company also offers an IT service management product called Freshservice, which assists businesses with employee onboarding and management.
"We have doubled our number of paying customers for Freddy Copilot to 1,200 and those customers are seeing 30% productivity improvement," CEO Dennis Woodside told Reuters.
Freddy Copilot, an AI agent of Freshworks, helps employees improve their performance by summarizing issues and handling repetitive tasks.
Freshworks, which counts Oracle ORCL.N, Salesforce CRM.N and ServiceNow NOW.N among its competitors, completed the acquisition of Device42 in June to drive its IT asset management capabilities.
The company, founded in India's Southern city of Chennai in 2010, has more than 67,000 customers, including Databricks, American Express AXP.N, Nucor NUE.N and Sony 6758.T.
Freshworks forecast third-quarter revenue to be between $180 million and $183 million, the mid-point of which is above analysts' average estimate of $178.7 million, according to LSEG data.
It expects adjusted profit per share to be between 7 cents and 8 cents for the third quarter, compared with estimates of 8 cents.
It also raised its annual revenue forecast to between $707 million and $713 million, compared with its prior expectations of between $695 million and $705 million.
However, Freshworks trimmed the upper end of its annual adjusted profit per share forecast range.
In the second quarter ended June 30, revenue came in at $174.1 million, beating estimates of about $169 million. On an adjusted basis, quarterly profit per share stood at 8 cents, which also beat estimates of 6 cents per share.
Freshworks appointed insider Dennis Woodside as the CEO in May, taking the reins from founder Girish Mathrubootham who assumed the role of firm's executive chairman.
Freshworks Freshworks https://reut.rs/4df1EHi
Reporting by Jaspreet Singh in Bengaluru; editing by Alan Barona
免責聲明: XM Group提供線上交易平台的登入和執行服務，允許個人查看和/或使用網站所提供的內容，但不進行任何更改或擴展其服務和訪問權限，並受以下條款與條例約束：（i）條款與條例；（ii）風險提示；（iii）完全免責聲明。網站內部所提供的所有資訊，僅限於一般資訊用途。請注意，我們所有的線上交易平台內容並不構成，也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。
所有缐上交易平台所發佈的資料，僅適用於教育/資訊類用途，不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議，或是交易價格紀錄，或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。
本網站的所有XM和第三方所提供的内容，包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接，皆爲‘按原狀’，並作爲一般市場評論所提供，而非投資建議。請理解和接受，所有被歸類為投資研究範圍的相關内容，並非爲了促進投資研究獨立性，而根據法律要求所編寫，而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊，相關詳情請點擊 這裡查看。
