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HubSpot, Inc. (HUBS) reported a 19% year-over-year increase in subscription revenues, reaching $744.5 million in Q2, surpassing estimates of $722.7 million. The company added over 9,700 net new customers, raising its total customer count to 267,982, marking an 18% increase year-over-year.
HubSpot’s sales hub seat upgrades surged by 71% annually, and service hub seat upgrades increased by 110% during the same period, bolstered by the integration of AI features. The firm currently holds a Zacks Rank of #3 (Hold).
In comparison, Salesforce, Inc. (CRM) generated $9.3 billion from subscription services in its first quarter, while Microsoft Corporation (MSFT) reported a 23% revenue increase in its Dynamic 365 segment during the June quarter.
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