ChannelAdvisor: 3Q Earnings Snapshot
MORRISVILLE, N.C. (AP) _ ChannelAdvisor Corp. (ECOM) on Thursday reported a loss of $2.3 million in its third quarter.
The Morrisville, North Carolina-based company said it had a loss of 8 cents per share. Earnings, adjusted for stock option expense, were 3 cents per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 3 cents per share.
The provider of cloud-based e-commerce services posted revenue of $32.3 million in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $31.6 million.
For the current quarter ending in December, ChannelAdvisor said it expects revenue in the range of $34.2 million to $35 million.
The company expects full-year revenue in the range of $130.6 million to $131.4 million.
ChannelAdvisor shares have climbed 28 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $11.55, a climb of 35 percent in the last 12 months.