Bandwidth: Q2 Earnings Snapshot
RALEIGH, N.C. (AP) _ Bandwidth Inc. (BAND) on Wednesday reported a loss of $6.2 million in its second quarter.
The Raleigh, North Carolina-based company said it had a loss of 25 cents per share. Losses, adjusted for one-time gains and costs, were 4 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 7 cents per share.
The enterprise software developer posted revenue of $136.5 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $133.1 million.
For the current quarter ending in October, Bandwidth expects its per-share earnings to range from 2 cents to 4 cents.
The company said it expects revenue in the range of $140 million to $142 million for the fiscal third quarter.
Bandwidth expects full-year earnings in the range of 10 cents to 14 cents per share, with revenue ranging from $551 million to $557 million.
Bandwidth shares have fallen 73% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $19.66, a decrease of 85% in the last 12 months.