LivePerson shares plummet after outlook disappoints

By @ibtimes on

Shares of LivePerson Inc fell more than 15 percent on Tuesday, a day after the Web-based software maker reported a market-beating first-quarter profit but gave muted second-quarter and full-year outlooks.

The company, which makes software that helps companies communicate with their customers online via text-based chats, said it expects second-quarter adjusted earnings of 6-8 cents a share on $31.3-$31.8 million in revenue.

Analysts, on average, were looking for 8 cents a share in profit on $31.9 million in revenue, according to Thomson Reuters I/B/E/S.

For the first quarter, Israel-based LivePerson earned 9 cents a share on an adjusted basis, above the 7 cents a share projected by analysts.

Revenue came in at $30.4 million, in-line with consensus estimates.

Additionally, the company said it appointed Daniel Murphy as chief financial officer, succeeding Tim Bixby who announced his resignation last year.

Shares of the company were down about 14 percent at $11.25 in morning trading on Nasdaq.

(Reporting by Himank Sharma in Bangalore; Editing by Joyjeet Das)

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