Bandwidth: 3Q Earnings Snapshot
RALEIGH, N.C. (AP) _ Bandwidth Inc. (BAND) on Wednesday reported a third-quarter loss of $1 million, after reporting a profit in the same period a year earlier.
The Raleigh, North Carolina-based company said it had a loss of 4 cents per share. Losses, adjusted for one-time gains and costs, came to 6 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 15 cents per share.
The enterprise software developer posted revenue of $60.5 million in the period.
For the current quarter ending in December, Bandwidth expects its results to range from a loss of 17 cents per share to a loss of 15 cents per share.
The company said it expects revenue in the range of $58.4 million to $58.9 million for the fiscal fourth quarter.
Bandwidth expects full-year results to range from a loss of 39 cents per share to a loss of 37 cents per share, with revenue ranging from $229 million to $229.5 million.
Bandwidth shares have climbed 36% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $55.45, a rise of 13% in the last 12 months.