Switch (NYSE:SWCH) posted its latest quarterly results after the bell today, amassing earnings that were stronger than what Wall Street expected, revenue that missed the mark and a disappointing full-year guidance.
The Las Vegas-based operator of the SUPERNAP data center said that for its fourth quarter of fiscal 2018, it amassed earnings of 5 cents per share, around 3 cents higher than what analysts were calling for in the Wall Street consensus estimate. Switch also brought in revenue of $103.21 million, which is lower than the $104.15 million that analysts were calling for.
“We are pleased with Switch’s progress toward meeting its financial and strategic goals during the final quarter of 2018,” said Gabe Nacht, CFO of Switch. “We delivered revenues within our revised guidance range, while our solid cost discipline drove strong profitability with Adjusted EBITDA coming in above the high end of our revised outlook.”
For its fiscal 2019, Switch sees its sales as being in the range of $436 million to $445 million, below the Wall Street guidance of $449.8 million.
“We enter 2019 well-positioned from a sellable capacity perspective with low debt leverage, and we remain focused on sound execution across all facets of the business,” Nacht added.
SWCH stock was up about 12.9% by day’s end as the company geared up to report its latest quarterly earnings results. An earnings beat saw shares increase an additional 0.3% after the bell Tuesday.
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