Bandwidth: 2Q Earnings Snapshot
RALEIGH, N.C. (AP) _ Bandwidth Inc. (BAND) on Tuesday reported second-quarter net income of $10.5 million.
On a per-share basis, the Raleigh, North Carolina-based company said it had profit of 50 cents. Earnings, adjusted for one-time gains and costs, came to 20 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 13 cents per share.
The enterprise software developer posted revenue of $48.3 million in the period.
For the current quarter ending in October, Bandwidth expects its results to range from a loss of 21 cents per share to a loss of 19 cents per share.
The company said it expects revenue in the range of $47.7 million to $48.2 million for the fiscal third quarter.
Bandwidth expects full-year earnings in the range of 4 cents to 9 cents per share, with revenue ranging from $198 million to $199 million.
Bandwidth shares have risen 52 percent since the beginning of the year.