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Brightcove reports 2Q loss

BOSTON (AP) _ Brightcove Inc. (BCOV) on Wednesday reported a loss of $7.7 million in its second quarter.

On a per-share basis, the Boston-based company said it had a loss of 22 cents. Losses, adjusted for stock option expense and amortization costs, were 16 cents per share.

The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 14 cents per share.

The internet video streaming service company posted revenue of $38.8 million in the period, topping Street forecasts. Four analysts surveyed by Zacks expected $37.2 million.

For the current quarter ending in October, Brightcove expects its results to range from a loss of 11 cents per share to a loss of 10 cents per share.

The company said it expects revenue in the range of $37.5 million to $38.5 million for the fiscal third quarter.

Brightcove expects full-year results to range from a loss of 39 cents per share to a loss of 34 cents per share, with revenue ranging from $152 million to $155 million.

Brightcove shares have fallen 13 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $7, a fall of 28 percent 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


Keywords: Brightcove, Earnings Report