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TheStreet Open House

LivePerson CEO Discusses Q2 2011 Results - Earnings Call Transcript

Stocks in this article: LPSN

Also, please note that on the call today, we will discuss some non-GAAP financial measures in talking about the company’s financial performance. We report our GAAP results as well as provide a reconciliation of these non-GAAP measures to GAAP financial measures in our earnings release. You can obtain a copy of our earnings release by visiting the investor relation section of our website.

And now, I’d like to turn the call over to LivePerson’s Chief Executive Officer, Robert LoCascio.

Robert LoCascio

Thanks, Dan. Good afternoon, everyone and thanks for joining us. I'm happy to report that we had a very strong second quarter. We generated $31.9 million in revenue, which is a 5% increase from the prior quarter and a 21% increase from the prior year. Revenue exceeded our guidance and we achieved an EBITDA of $0.13 per share, which is a 30% increase from the second quarter of the prior year, and adjusted net income of $0.08 per share.

Beyond our core chat business, we continue to lay the foundation for a new product and platform strategy. Before diving into those details, I would like to briefly take you through the exciting developments in LivePerson’s vision and strategy. Success of our intelligent web franchise is largely being driven by the sophisticated behavioral targeting platform that supports this core application.

Our platform process data on nearly 100% of the traffic on our customers’ website totaling about $450 million unique visitors per month. Though we process data all this traffic our platform currently targets some proactive users [ph] and most likely to convert, which is only about 2% of all visitors. So, we continue to work towards unleashing the full value of our data and behavioral intelligence. Last year, we architected an open platform that can support a broader set of online engagement applications and services developed by our team for customers and third party partners.

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