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Carbonite: 2Q Earnings Snapshot

August 2, 2018

BOSTON (AP) _ Carbonite Inc. (CARB) on Thursday reported a loss of $5.7 million in its second quarter.

The Boston-based company said it had a loss of 20 cents per share. Earnings, adjusted for amortization costs and stock option expense, came to 45 cents per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share.

The cloud computing company posted revenue of $77.7 million in the period, which missed Street forecasts. Four analysts surveyed by Zacks expected $78.7 million.

For the current quarter ending in October, Carbonite expects its per-share earnings to range from 40 cents to 42 cents.

The company said it expects revenue in the range of $77.6 million to $79.6 million for the fiscal third quarter.

Carbonite expects full-year earnings in the range of $1.51 to $1.59 per share, with revenue ranging from $296.9 million to $306.9 million.

Carbonite shares have risen 40 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $35.15, a climb of 53 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 CARB at https://www.zacks.com/ap/CARB

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