NEWS: Blucora Corp.'s Infospace search service generated stronger third-quarter revenue growth than analysts anticipated, a development that overshadowed a loss stemming from charges to account for the company's past missteps.
DETAILS: Infospace, a service that gathers results from Google, Yahoo and other Internet search engines, benefited from the addition of several new partners that helped bring in more advertising revenue. The results released Tuesday, coupled with an upbeat forecast for the current quarter, helped lift Blucora's stock by 9 percent in extended trading. If the shares behave similarly in Wednesday's regular trading session, the stock will reach its highest levels in more than six years.
NUMBERS: The Bellevue, Wash. company lost $6.5 million, or 16 cents per share, during the three months ended in September, widening from a setback of $2.4 million, or 6 cents per share, at the same time last year. The latest losses included charges covering past investments that didn't pan out.
If not for the charges and other one-time items, Blucora said it would have earned 30 cents per share. That figure topped the average earnings estimate of 17 cents per share among analysts surveyed by FactSet.
Revenue for the period surged 34 percent from last year to $124 million, about $24 million higher than analysts' projections. The past quarter's revenue included Blucora's recent acquisition of an e-commerce site Monoprice.
FUTURE: Blucora predicted its revenue for the current quarter ending in December will range from $156 million to $164 million. Analysts had forecast revenue of $108 million.
STOCK: Shares rose $2.26, or 9.3 percent, to $26.50 in extended trading. The stock hit a 52-week high of $25.18 last month. Its low during the past year is $14.05.