Internap Network Services Earnings: Everything You Must Know Now
Internap Network Services Corp. (NASDAQ:INAP) had a loss and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Internap Network Services Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $0.00 in the quarter versus EPS of $0.03 in the year-earlier quarter.
Revenue: Rose 3.98% to $69.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Internap Network Services Corp. reported adjusted EPS of $0.00 per share. By that measure, the company missed the mean analyst estimate of $0.02. It beat the average revenue estimate of $69.65 million.
Quoting Management: “We begin 2013 with solid first quarter results reflecting our continued shift to data center services including colocation, hosting and cloud offerings. In the first quarter, we successfully drove sequential and year-over-year growth in our data center services segment while also delivering record data center services segment margin,” said Eric Cooney, President and Chief Executive Officer of Internap. “With compelling new offerings planned for 2013, such as our recent ‘cloudy colo’ announcement, we expect to further differentiate Internap’s data center services and sustain long-term profitable growth for the business.”
Key Stats (on next page)…
Revenue decreased 0.07% from $69.75 million in the previous quarter. EPS decreased to $0.00 in the quarter versus EPS of $0.04 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 $0 to a profit $0.01. For the current year, the average estimate has moved down from a profit of $0.08 to a profit of $0.06 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)