SUNNYVALE, Calif. (AP) _ Ooma Inc. (OOMA) on Tuesday reported a loss of $5 million in its fiscal second quarter.
The Sunnyvale, California-based company said it had a loss of 24 cents per share. Losses, adjusted for stock option expense and costs related to mergers and acquisitions, were 4 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 7 cents per share.
The internet phone service provider posted revenue of $37.3 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $35.6 million.
For the current quarter ending in November, Ooma expects its results to range from a loss of 6 cents per share to a loss of 4 cents per share.
The company said it expects revenue in the range of $38 million to $39 million for the fiscal third quarter.
Ooma expects full-year results to range from a loss of 22 cents per share to a loss of 18 cents per share, with revenue ranging from $148 million to $149.5 million.
Ooma shares have declined 13% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $12.07, a drop of 24% in the last 12 months.