Web.com Group Earnings: Strong Revenue Growth Boosts Shares
Web.com Group, Inc. (NASDAQ:WWWW) had a loss and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. Shares are up 2.36%.
Web.com Group, Inc. Earnings Cheat Sheet
Results: Net loss increased to $51.878 million (+45 cents per diluted share adjusted for one-time items) in the quarter versus a net gain of $540,000 in the year-earlier quarter.
Revenue: Rose 51.4% to $111.4 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Web.com Group, Inc. reported adjusted net income of 45 cents per share. By that measure, the company beat the mean analyst estimate of $0.42. It missed the average revenue estimate of $125.21 million.
Quoting Management: “2012 was a pivotal year for Web.com as our successful integration of Network Solutions has created a company with an annualized non-GAAP revenue run rate of more than $500 million, an accelerating revenue growth profile, and best-in-class profitability margins and strong cash flow from operations,” said David Brown, chairman and chief executive officer of Web.com.
Key Stats (on next page)…
Revenue increased 5.34% from $105.75 million in the previous quarter. Net loss increased 141.29% from $21.5 million in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.44 to a profit $0.45. For the current year, the average estimate is a profit of $1.56, 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)