Shares of Freshworks Inc. (FRSH) soared over 28% on November 7, 2024, after the software company reported strong third-quarter results that exceeded analysts' expectations. The stock rally was fueled by robust demand for Freshworks' AI-driven products and an upbeat outlook for the full year.

For the quarter ended September 30, Freshworks posted revenue of $186.6 million, up 22% year-over-year, surpassing analysts' estimates of $181.6 million. The company's adjusted earnings per share of $0.11 also beat expectations of $0.08, reflecting strong operational efficiency and cost control measures.

Encouraged by the strong momentum, Freshworks raised its full-year 2024 revenue guidance to a range of $713.6 million to $716.6 million, up from its previous forecast of $707 million to $713 million. The company also lifted its annual adjusted profit per share outlook to 38 cents to 39 cents, higher than the prior guidance of 32 cents to 34 cents.