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Why HubSpot Rallied on a Down Day for Tech Stocks

·3-min read

Shares of HubSpot (NYSE: HUBS) rallied today, up 4.8% as of 12:40 p.m. ET, even though the broader technology sector as exemplified in the Nasdaq Composite was down more than 1% at that time. It's earnings season, and HubSpot just posted one of its customary beats relative to analyst expectations. In the second quarter, HubSpot posted 35.7% revenue growth, as well as non-GAAP (adjusted) earnings per share of $0.44, with both figures beating analyst expectations.