ChannelAdvisor: 2Q Earnings Snapshot
MORRISVILLE, N.C. (AP) _ ChannelAdvisor Corp. (ECOM) on Thursday reported a loss of $1.3 million in its second quarter.
On a per-share basis, the Morrisville, North Carolina-based company said it had a loss of 5 cents. Earnings, adjusted for stock option expense, were 5 cents per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 1 cent per share.
The provider of cloud-based e-commerce services posted revenue of $31.9 million in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $31.7 million.
For the current quarter ending in October, ChannelAdvisor said it expects revenue in the range of $31.5 million to $32 million.
The company expects full-year revenue in the range of $129 million to $131 million.
ChannelAdvisor shares have decreased 24% since the beginning of the year. The stock has fallen 38% in the last 12 months.