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Why Is Software Company Five9 Stock Diving Premarket Friday?

Five9, Inc. (NASDAQ:FIVN) shares are trading lower after the company reported second-quarter 2024 results. Revenue was $252.1 million, beating the consensus of $245.2 million. Adjusted gross margin stood at 60.5%, down from 61.8% last year. Adjusted EBITDA rose to $41.8 million from $41.5 million a year ago. Operating cash flow came in at $19.9 million in the quarter. Adjusted EPS of $0.52 surpassed the consensus of $0.44. Mike Burkland, Chairman and CEO, said, “We are pleased to report strong second quarter results, achieving a key milestone with annual ...