Bandwidth: 2Q Earnings Snapshot
Posted July 30, 2020 5:17 pm.
Last Updated July 30, 2020 5:24 pm.
This article is more than 5 years old.
RALEIGH, N.C. (AP) _ Bandwidth Inc. (BAND) on Thursday reported a second-quarter loss of $20.6 million, after reporting a profit in the same period a year earlier.
The Raleigh, North Carolina-based company said it had a loss of 86 cents per share. Earnings, adjusted for non-recurring costs and amortization costs, were 13 cents per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was breakeven on a per-share basis.
The enterprise software developer posted revenue of $76.8 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $70.4 million.
For the current quarter ending in October, Bandwidth expects its results to range from a loss of 3 cents per share to a loss of 1 cent per share.
The company said it expects revenue in the range of $76 million to $76.5 million for the fiscal third quarter.
Bandwidth expects full-year earnings in the range of 5 cents to 11 cents per share, with revenue ranging from $296.8 million to $298.3 million.
Bandwidth shares have more than doubled since the beginning of the year. In the final minutes of trading on Thursday, shares hit $148.99, a rise of 91% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BAND at https://www.zacks.com/ap/BAND
The Associated Press
