AP NEWS

ChannelAdvisor: 2Q Earnings Snapshot

August 9, 2018

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.

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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 ECOM at https://www.zacks.com/ap/ECOM

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