Carbonite Inc Earnings: Everything You Must Know Now
Carbonite Inc (NASDAQ:CARB) had a loss 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.
Carbonite Inc Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.02 in the quarter versus EPS of $-0.11 in the year-earlier quarter.
Revenue: Rose 29.38% to $26.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Carbonite Inc reported adjusted EPS loss of $0.02 per share. By that measure, the company beat the mean analyst estimate of $-0.11. It beat the average revenue estimate of $25.81 million.
Quoting Management: “Carbonite delivered a strong quarter, highlighted by accelerating bookings growth, continued robust performance in the small business market and our fourth consecutive quarter of positive free cash flow,” said David Friend, Chairman and Chief Executive Officer of Carbonite. “We made significant progress strengthening our product portfolio, especially as it relates to our increasing focus on the small business market, and in expanding our indirect distribution channels. The steps that we’re taking to transform the business, combined with the investments we’ve already made in our brand, infrastructure and support, position us well to deliver solutions that keep the world’s small businesses running.”
Key Stats (on next page)…
Revenue increased 6.9% from $24.51 million in the previous quarter. EPS increased to $-0.02 in the quarter versus EPS of $-0.18 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 $0.10 and has not changed. For the current year, the average estimate is a loss of $0.42, which is the same with that ninety days ago.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)