Brightcove: 4Q Earnings Snapshot
BOSTON (AP) _ Brightcove Inc. (BCOV) on Wednesday reported a loss of $2.6 million in its fourth quarter.
The Boston-based company said it had a loss of 7 cents per share. Earnings, adjusted for stock option expense and costs related to mergers and acquisitions, came to less than 1 cent on a per-share basis.
The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 3 cents per share.
The internet video streaming service company posted revenue of $40.9 million in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $41.2 million.
For the year, the company reported that its loss narrowed to $14 million, or 39 cents per share. Revenue was reported as $164.8 million.
For the current quarter ending in April, Brightcove expects its results to range from a loss of 5 cents per share to a loss of 3 cents per share.
The company said it expects revenue in the range of $40 million to $40.5 million for the fiscal first quarter.
Brightcove shares have risen 22 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $8.58, a climb of 27 percent in the last 12 months.