ChannelAdvisor: 2Q Earnings Snapshot
MORRISVILLE, N.C. (AP) _ ChannelAdvisor Corp. (ECOM) on Thursday reported a loss of $2.8 million in its second quarter.
On a per-share basis, the Morrisville, North Carolina-based company said it had a loss of 10 cents. Losses, adjusted for stock option expense, came to 1 cent per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 10 cents per share.
The provider of cloud-based e-commerce services posted revenue of $32.7 million in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $31.5 million.
For the current quarter ending in October, ChannelAdvisor said it expects revenue in the range of $31.4 million to $31.8 million.
The company expects full-year revenue in the range of $130.5 million to $131.5 million.
ChannelAdvisor shares have risen 54 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $13.90, a climb of 40 percent in the last 12 months.