Carbonite Inc (NASDAQ:CARB) had a loss and met 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.
Carbonite Inc Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.18 in the quarter versus EPS of $-0.27 in the year-earlier quarter.
Revenue: Rose 32.08% to $24.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Carbonite Inc reported adjusted EPS loss of $0.18 per share. By that measure, the company met the mean analyst estimate of $-0.18. It beat the average revenue estimate of $24.43 million.
Quoting Management: “This was another successful quarter at Carbonite, highlighted by accelerating bookings growth, increasing traction in the small business market, and our third consecutive quarter of positive free cash flow,” said David Friend, Chairman and Chief Executive Officer of Carbonite. “I am pleased with the progress we’ve been making in our shift towards the small business market, the growing importance of distribution channels in reaching our target customers, and the development of new solutions that enhance our value proposition.”
Key Stats (on next page)…
Revenue increased 3.46% from $23.68 million in the previous quarter. EPS decreased to $-0.18 in the quarter versus EPS of $-0.01 in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a loss of $0.11 and has not changed. For the current year, the average estimate has moved down from a loss of $0.41 to a loss of $0.42 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)