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Carbonite: 1Q Earnings Snapshot

BOSTON (AP) _ Carbonite Inc. (CARB) on Thursday reported first-quarter profit of $2 million.

The Boston-based company said it had net income of 6 cents per share. Earnings, adjusted for one-time gains and costs, were 44 cents per share.

The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.

The cloud computing company posted revenue of $81.2 million in the period. Its adjusted revenue was $83 million, also beating Street forecasts. Six analysts surveyed by Zacks expected $77.5 million.

For the current quarter ending in July, Carbonite said it expects revenue in the range of $133 million to $137 million.

The company expects full-year revenue in the range of $491 million to $505 million.

Carbonite shares have fallen nearly 3% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $24.58, a drop 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 CARB at https://www.zacks.com/ap/CARB