Cvent Announces Third Quarter 2014 Financial Results
finance.yahoo.com
Revenue of $37.4 million increases 28% year-over-year
Raises 2014 Revenue and Earnings Guidance
Reggie Aggarwal, Chief Executive Officer of Cvent, said, “We saw strong momentum across our business and a well-executed operational performance which contributed to top and bottom line results that exceeded the high-end of our guidance ranges. Cvent is delivering an attractive combination of growth and profitability while at the same time investing in expanding our sales reach and delivering further technology innovation to fuel the meetings and events industry’s shift toward cloud-based solutions.”
Aggarwal continued, “Investments we are making on the event management side of our business increase our enterprise reach, leverage mobile proliferations and enhance our leading platform. We are also investing in adding value for our hotel and venue customers by not only delivering more leads to them, but also by helping them analyze and prioritize these leads, simplifying the response process, and ultimately enabling them to increase productivity. We believe our acquisition of Decision Street, a development-stage company, will accelerate our efforts in this area. We remain confident that as we expand on our leadership position in the market, we can take our network effects to the next level in the years ahead, creating significant value for customers on both sides of the meetings and events ecosystem, as well as for shareholders.” |
