Stock Alert: LivePerson Jumps 20% On Outlook Better Than Estimates

(RTTNews) - Shares of conversational commerce and AI software developer LivePerson, Inc. (LPSN) are surging more than 20% Wednesday morning after the company raised its full-year revenue outlook, better than the Street view.

The stock touched a new high of $59.66 this morning.

The company improved its revenue guidance for the full year to a range of $357.0 million to $361.0 million, from $340.0 million to $355.0 million. Analysts polled by Thomson Reuters expect the company to revenue of $347.31 million for the period.

LivePerson Tuesday reported net loss of $0.06 per share for the second-quarter. The consensus estimate was for $0.07 loss.

Revenue increased 29% year-over-year at $91.6 million, beating the average estimate of analysts for $89.35 million.

"With work from home and social distancing the new normal, the concept of the traditional voice call center has become obsolete. Demand for our platform rose significantly in the second quarter as brands rushed to fill the void with AI-powered messaging," said CEO and Founder, Rob LoCascio.