BigCommerce: Q2 Earnings Snapshot
AUSTIN, Texas (AP) _ BigCommerce Holdings, Inc. (BIGC) on Thursday reported a loss of $39.6 million in its second quarter.
The Austin, Texas-based company said it had a loss of 54 cents per share. Losses, adjusted for costs related to mergers and acquisitions and stock option expense, came to 19 cents per share.
The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 24 cents per share.
The company posted revenue of $68.2 million in the period, also exceeding Street forecasts. Ten analysts surveyed by Zacks expected $66.2 million.
For the current quarter ending in October, BigCommerce said it expects revenue in the range of $68.3 million to $71.2 million.
The company expects full-year revenue in the range of $277 million to $282.9 million.
BigCommerce shares have dropped 48% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $18.35, a fall of 73% in the last 12 months.