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Brightcove reports 3Q loss

BOSTON (AP) _ Brightcove Inc. (BCOV) on Thursday reported a loss of $5.4 million in its third quarter.

The Boston-based company said it had a loss of 16 cents per share. Losses, adjusted for stock option expense and severance costs, came to 6 cents per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 10 cents per share.

The internet video streaming service company posted revenue of $39.5 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $37.8 million.

For the current quarter ending in December, Brightcove expects its results to range from a loss of 3 cents per share to a loss of 2 cents per share.

The company said it expects revenue in the range of $39.3 million to $39.8 million for the fiscal fourth quarter.

Brightcove expects full-year results to range from a loss of 33 cents per share to a loss of 31 cents per share, with revenue ranging from $155.1 million to $155.6 million.

Brightcove shares have dropped 12 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $7.05, a decline of 41 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