support.com Earnings: Here’s Why the Stock is Rising 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 0.23%.
support.com, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 50% to $0.06 in the quarter versus EPS of $-0.06 in the year-earlier quarter.
Revenue: Rose 25.8% to $18.87 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: support.com, Inc. reported adjusted EPS income of $0.06 per share. By that measure, the company beat the mean analyst estimate of $0.04. It beat the average revenue estimate of $18.82 million.
Quoting Management: “We finished 2012 strong, with record revenue, profitability and cash generation,” said Josh Pickus, President and CEO. “In 2013, our focus will be on maintaining and enhancing operating performance, building out new initiatives in SaaS and SMB, and extending our market leadership.”
Key Stats (on next page)…
Revenue increased 3.8% from $18.18 million in the previous quarter. EPS increased 50% from $0.04 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 $0.03 and has not changed. For the current year, the average estimate is a loss of $0, 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)