{"id":31411,"date":"2023-05-02T20:11:45","date_gmt":"2023-05-02T20:11:45","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/freshworks-tops-revenue-estimates\/"},"modified":"2023-05-02T20:13:21","modified_gmt":"2023-05-02T20:13:21","slug":"freshworks-tops-revenue-estimates","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/freshworks-tops-revenue-estimates\/","title":{"rendered":"Freshworks tops revenue estimates as lower-priced offerings boost demand"},"content":{"rendered":"

(Reuters) – Freshworks Inc beat quarterly revenue estimates on Tuesday and posted its first adjusted operating profit as more businesses sought its lower-priced customer engagement software in a tough economy.<\/p>\n

Rising interest rates, high inflation and a banking crisis have worsened the global economic outlook in recent months, forcing businesses to slash their technology budgets. <\/p>\n

Freshworks, whose products compete with Salesforce Inc and Zendesk, told Reuters that the downturn was driving more companies to its more affordable offerings. <\/p>\n

The San Mateo, California-based company’s revenue rose 20% in the first quarter ended March to $137.7 million, compared with analysts’ estimates of $134.3 million, according to Refinitiv.<\/p>\n

It posted an adjusted operating profit of $3.9 million. Net loss narrowed to $42.7 million, from $49.1 million a year earlier.<\/p>\n

The company forecast second-quarter revenue largely in line with estimates, while its forecast for adjusted profit was above estimates.<\/p>\n

\n

(Reporting by Akash Sriram in Bengaluru; Editing by Shailesh Kuber)<\/p>\n

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(Reuters) – Freshworks Inc beat quarterly revenue estimates on Tuesday and posted its first adjusted operating profit as more businesses sought its lower-priced customer engagement software in a tough economy. Rising interest rates, high inflation and a banking crisis have worsened the global economic outlook in recent months, forcing businesses to slash their technology budgets. […]<\/p>\n","protected":false},"author":8,"featured_media":31412,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1213],"tags":[],"class_list":["post-31411","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-business"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ410TB-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/31411","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=31411"}],"version-history":[{"count":1,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/31411\/revisions"}],"predecessor-version":[{"id":31413,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/31411\/revisions\/31413"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/31412"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=31411"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=31411"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=31411"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}