Five9 (NASDAQ:FIVN) experienced a decline of over 11% in its share price intra-day today, as the company’s current quarter revenue outlook did not meet expectations despite impressive fourth-quarter results.

In the fourth quarter, the company posted earnings per share (EPS) of $0.61, beating the Street forecast of $0.48. The company’s revenue reached $239.1 million, above the Street estimate of $238.06 million. However, the adjusted gross margin for the quarter decreased to 61.3% from 62.3% in the previous year.

For the first quarter of 2024, Five9 anticipates an EPS between $0.37 and $0.39, higher than the analyst consensus of $0.32. However, the company’s revenue forecast of $239 million to $240 million falls short of the expected $245.6 million.

For the entire year of 2024, Five9 expects its EPS to range from $2.14 to $2.18, compared to the analyst consensus of $2.14. The projected full-year revenue is between $1.053 billion and $1.057 billion, compared to the analyst expectation of $1.055 billion.

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