Brightcove (BCOV) Issues Quarterly Earnings Results, Beats Expectations By $0.07 EPS
Brightcove (NASDAQ:BCOV) posted its quarterly earnings data on Thursday. The software maker reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.07, Bloomberg Earnings reports. The business had revenue of $40.10 million for the quarter, compared to analysts’ expectations of $39.52 million. Brightcove had a negative net margin of 12.52% and a negative return on equity of 22.92%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.03 EPS. Brightcove updated its Q1 guidance to ($0.08)-($0.06) EPS and its FY18 guidance to ($0.06)-$0.02 EPS.
Shares of Brightcove (NASDAQ:BCOV) traded down $0.15 during mid-day trading on Friday, reaching $7.15. 358,788 shares of the company’s stock traded hands, compared to its average volume of 133,066. Brightcove has a 12-month low of $5.40 and a 12-month high of $9.30. The firm has a market cap of $242.54, a price-to-earnings ratio of -12.54 and a beta of 1.86.
An institutional investor recently raised its position in Brightcove stock. Dimensional Fund Advisors LP raised its holdings in Brightcove Inc (NASDAQ:BCOV) by 30.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,234 shares of the software maker’s stock after buying an additional 3,764 shares during the period. Dimensional Fund Advisors LP’s holdings in Brightcove were worth $101,000 at the end of the most recent reporting period. 62.72% of the stock is currently owned by hedge funds and other institutional investors.
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Brightcove Company Profile
Brightcove Inc is a global provider of cloud-based services for video. The Company’s products and services include Brightcove Video Cloud (Video Cloud), Brightcove Zencoder (Zencoder), Brightcove Once (Once), Brightcove Perform (Perform), Brightcove Video Marketing Suite (Video Marketing Suite), Brightcove Lift (Lift), Brightcove OTT Flow (OTT Flow) and Brightcove Enterprise Video Suite (Enterprise Video Suite), among others.
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