Polycom Earnings: Here’s Why Shares are Up Now
Polycom, Inc. (NASDAQ:PLCM) 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 0.19%.
Polycom, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 40.91% to $0.13 in the quarter versus EPS of $0.22 in the year-earlier quarter.
Revenue: Decreased 7.8% to $338.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Polycom, Inc. reported adjusted EPS income of $0.13 per share. By that measure, the company beat the mean analyst estimate of $0.11. It beat the average revenue estimate of $336.28 million.
Quoting Management: “Polycom posted better than expected Q1 results as we continued to deliver industry-leading products and unmatched interoperability, along with strong sales execution,” stated Andrew M. Miller, Polycom President and Chief Executive Officer. “With the recent release of our breakthrough Polycom® RealPresence® CloudAXIS™ Suite, Polycom is now shipping an innovative, best-in-class portfolio, which extends secure, enterprise-grade video collaboration to anyone with a Web browser. We remain focused on our long-term strategic plan to make video collaboration ubiquitous in the enterprise.”
Key Stats (on next page)…
Revenue decreased 4.03% from $353.03 million in the previous quarter. EPS decreased 23.53% from $0.17 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.16 to a profit $0.15. For the current year, the average estimate has moved down from a profit of $0.71 to a profit of $0.67 over the last ninety days.
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