support.com Earnings: Here’s Why Investors are Excited Now
support.com, Inc. (NASDAQ:SPRT) 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 4.55%.
support.com, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.07 in the quarter versus EPS of $-0.02 in the year-earlier quarter.
Revenue: Rose 16.23% to $20.12 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: support.com, Inc. reported adjusted EPS income of $0.07 per share. By that measure, the company beat the mean analyst estimate of $0.05. It beat the average revenue estimate of $20.1 million.
Quoting Management: “We delivered strong Q2 results, highlighted by margin expansion, strong cash generation and SaaS revenue growth,” said Josh Pickus, President and Chief Executive Officer. “While delivering our fourth consecutive quarter of profitability, we also laid the foundation for future revenue growth with plans for a bundled support offering for Comcast and the addition of RadioShack to our SaaS customer base.”
Key Stats (on next page)…
Revenue decreased 0% from $0 in the previous quarter. EPS increased 16.67% from $0.06 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 $0.06 and has not changed. For the current year, the average estimate is a profit of $0.23, 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)