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Freshworks raised its annual revenue and profit forecasts on Wednesday after upbeat third-quarter results, helped by demand for its AI-driven products , sending its shares up more than 15% in extended trading. US Election 2024 US Election Result Live Updates Swing state results deciding who'll be new POTUS Trump vs Harris: Who’s winning which state? Full list The California-based company said it will lay off 13% of its workforce, or 660 employees, globally in a bid to streamline operations. It expects to book about $11 million to $13 million in restructuring charges in the fourth quarter.
Freshworks expects the restructuring plan will complete by the end of the fiscal year ending Dec. 31. Businesses are digitizing their operations with AI tools, which is boosting demand for companies such as Freshworks.
The company provides tools such as Freshservice, an IT service management software that helps businesses with employee onboarding and management and Freshdesk, a customer service tool designed to deliver fast solutions to customer issues. Marketing Digital Marketing Masterclass by Neil Patel By - Neil Patel, Co-Founder and Author at Neil Patel Digital Digital Marketing Guru View Program Web Development Advanced Java Mastery: Object-Oriented Programming Techniques By - Metla Sudha Sekhar, IT Specialist and Developer View Program Office Productivity Zero to Hero in Microsoft Excel: Complete Excel guide 2024 By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) Java Programming with ChatGPT: Learn using Generative AI By - Metla Sudha Sekhar, IT Specialist and Developer View Program Data Science MySQL for Beginners: Learn Data Science and Analytics Skills By - Metla Sudha Sekhar, IT Specialist and Developer View Program Finance AI and Generative AI for Finance By - Hariom Tatsat, Vice President- Quantitative Analytics at Barclays View Program Web Development Advanced C++ Mastery: OOPs and Template Techniques By - Metla Sudha Sekhar, IT Specialist and Developer View Program Finance Financial Literacy for Non-Finance Executives By - CA Raja, Chartered Accountant | Financial Management Educator | Former AVP - Credit, SBI View Program Artificial Intelligence(AI) ChatGPT Mastery from Zero to Hero: The Complete AI Course By - Metla Sudha Sekhar, IT Specialist and Developer View Program Web Development Master RESTful APIs with Python and Django REST Framework: Web API Development By - Metla Sudha Sekhar, IT Specialist and Developer View Program Marketing Future of Marketing & Branding Masterclass By - Dr. David Aaker, Professor Emeritus at the Haas School of Business, UC Berkeley, Author | Speaker | Thought Leader | Branding Consultant View Program Data Science SQL for Data Science along with Data Analytics and Data Visualization By - Metla Sudha Sekhar, IT Specialist and Developer View Program Leadership Business Storytelling Masterclass By - Ameen Haque, Founder of Storywallahs View Program HR Human Potential and the Future of Employment By - Lynda Gratton, Prof.
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Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Freshworks now expects annual revenue to be between $713.6 million and $716.6 million, up from its prior expectations of $707 million to $713 million.
The company also raised its annual adjusted profit per share forecast to a range of 38 cents to 39 cents, up from its previous forecast of 32 cents to 34 cents. The software firm's revenue rose 22% to $186.6 million for the third quarter ended Sept.
30, compared with analysts' average estimate of $181.6 million, according to data compiled by LSEG. Adjusted profit per share of 11 cents for the third quarter also beat estimates of 8 cents.
Freshworks forecast fourth-quarter revenue to be between $187.8 million and $190.8 million, the midpoint of which was in line with estimates.
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