Carbonite: 3Q Earnings Snapshot

November 11, 2019 GMT

BOSTON (AP) _ Carbonite Inc. (CARB) on Monday reported a third-quarter loss of $14 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Boston-based company said it had a loss of 40 cents. Earnings, adjusted for one-time gains and costs, came to 60 cents per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.

The cloud computing company posted revenue of $125.6 million in the period. Its adjusted revenue was $135 million, which also beat Street forecasts. Six analysts surveyed by Zacks expected $131.6 million.

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Carbonite shares have decreased 27% since the beginning of the year. The stock has declined 38% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CARB at https://www.zacks.com/ap/CARB