Servicesource International Inc (NASDAQ:SREV) 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. Shares are down 2.77%.
Servicesource International Inc Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.02 in the quarter versus EPS of $0.01 in the year-earlier quarter.
Revenue: Rose 6.13% to $61.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Servicesource International Inc reported adjusted EPS loss of $0.02 per share. By that measure, the company beat the mean analyst estimate of $-0.04. It beat the average revenue estimate of $60.38 million.
Quoting Management: “With several new Renew OnDemand subscriptions, we are excited by the strong momentum this gives us to start the year,” said Mike Smerklo, ServiceSource’s Chairman and Chief Executive Officer. “We remain focused on the evolution of our business to lead with our world-class SaaS solution, purpose-built for recurring revenue, and we will continue to invest appropriately to capture this new growth opportunity.”
Key Stats (on next page)…
Revenue decreased 9.28% from $67.35 million in the previous quarter. EPS decreased to $-0.02 in the quarter versus EPS of $0.05 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 profit of $0.01 and has not changed. 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)