AVG Technologies Earnings: Here’s Why Investors Like These Results
AVG Technologies (NYSE:AVG) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 7.45%.
AVG Technologies Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 70.59% to $0.58 in the quarter versus EPS of $0.34 in the year-earlier quarter.
Revenue: Rose 26.2% to $104.73 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: AVG Technologies reported adjusted EPS income of $0.58 per share. By that measure, the company beat the mean analyst estimate of $0.38. It beat the average revenue estimate of $97.25 million.
Quoting Management: “We are very pleased with our excellent first quarter performance. We achieved more than $100 million in revenue in one quarter for the first time, posted over 100 percent growth in operating cash flow from the same period last year, and saw a 32 percent increase in year-over-year users to 150 million, with mobile representing today almost 25 percent of total users”, stated John Little, CFO of AVG Technologies.
Key Stats (on next page)…
Revenue increased 10% from $95.21 million in the previous quarter. EPS increased 81.25% from $0.32 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.35 to a profit $0.44. For the current year, the average estimate has moved up from a profit of $1.44 to a profit of $1.80 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)