AP NEWS

Brightcove: 3Q Earnings Snapshot

October 23, 2019

BOSTON (AP) _ Brightcove Inc. (BCOV) on Wednesday reported a loss of $3 million in its third quarter.

On a per-share basis, the Boston-based company said it had a loss of 8 cents. Earnings, adjusted for costs related to mergers and acquisitions and stock option expense, came to 6 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 4 cents per share.

The internet video streaming service company posted revenue of $47.4 million in the period.

For the current quarter ending in December, Brightcove expects its per-share earnings to range from 5 cents to 6 cents.

The company said it expects revenue in the range of $47.6 million to $48.1 million for the fiscal fourth quarter.

Brightcove expects full-year earnings in the range of 6 cents to 7 cents per share, with revenue ranging from $184.5 million to $185 million.

Brightcove shares have climbed 38% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $9.73, a rise of 23% in the last 12 months.

_____

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