Rapid7: 2Q Earnings Snapshot
BOSTON (AP) _ Rapid7 Inc. (RPD) on Monday reported a loss of $14.3 million in its second quarter.
The Boston-based company said it had a loss of 31 cents per share. Losses, adjusted for stock option expense and amortization costs, came to 13 cents per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 18 cents per share.
The cybersecurity company posted revenue of $58.4 million in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $55.2 million.
For the current quarter ending in October, Rapid7 expects its results to range from a loss of 15 cents per share to a loss of 12 cents per share.
The company said it expects revenue in the range of $58.6 million to $60 million for the fiscal third quarter.
Rapid7 expects full-year results to range from a loss of 52 cents per share to a loss of 45 cents per share, with revenue ranging from $237 million to $240 million.
Rapid7 shares have increased 60 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $29.91, a rise of 99 percent in the last 12 months.