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LegalZoom Lifts Guidance

By Yasin Ebrahim

Investing.com -- LegalZoom raised its full-year guidance Thursday after reporting an in-line third-quarter loss, and revenue that topped Wall Street estimates.

LegalZoom (NASDAQ:LZ) was up more than 15% in afterhours trading following the report.

The online legal service provider reported a loss of $0.05 per share on revenue of $154.4 million, compared with estimates for $0.05 and $150M, respectively.

The company guided Q4 guidance on revenue in a range of $145M to $147M and adjusted earnings before interest, taxes, depreciation and amortization, or EBITDA, to $23M. Analysts are expecting Q4 revenue of $145.6M.

Looking further ahead to the full-year, the company lifted its guidance, noting the "proactive measures we’ve taken to strengthen our profitability in recent quarters have enabled us to increase our full-year revenue and Adjusted EBITDA guidance.”

LegalZoom now expects full-year revenue to be between $617M and 619M and adjusted EBITDA to be $60 million, up from a prior estimate for revenue of $612M to $616M and adjusted EBITDA of $55M.

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