Servicesource International Earnings: Here’s Why Investors are Excited Now
Servicesource International Inc (NASDAQ:SREV) 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 4.98%.
Servicesource International Inc Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 0% to $0.02 in the quarter versus EPS of $0.02 in the year-earlier quarter.
Revenue: Rose 13.42% to $67.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Servicesource International Inc reported adjusted EPS income of $0.02 per share. By that measure, the company beat the mean analyst estimate of $0. It beat the average revenue estimate of $64.89 million.
Quoting Management: “The outperformance of our cloud offering, Renew OnDemand, combined with our managed services, drove strong performance for ServiceSource this quarter,” said Mike Smerklo, ServiceSource’s Chairman and Chief Executive Officer. “As our results demonstrate, ServiceSource has gained momentum in the first half of the year.”
Key Stats (on next page)…
Revenue increased 10.77% from $61.12 million in the previous quarter. EPS increased to $0.02 in the quarter versus EPS of $-0.02 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 $0.03 to a profit $0.02. For the current year, the average estimate is a profit of $0.08, 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)