Brightcove, Inc. (NASDAQ: BCOV) is a Boston, Massachusetts?based software company that produces an online video platform.
BOSTON (AP) _ Brightcove Inc. (BCOV) on Wednesday reported a loss of $1.3 million in its second quarter.
The Boston-based company said it had a loss of 3 cents per share. Earnings, adjusted for stock option expense and restructuring costs, were 7 cents per share. The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 3 cents per share. The internet video streaming service company posted revenue of $47.9 million in the period. For the current quarter ending in October, Brightcove expects its results to range from a loss of 2 cents per share to a loss of 1 cent per share. The company said it expects revenue in the range of $46 million to $47 million for the fiscal third quarter. Brightcove expects full-year earnings in the range of 8 cents to 10 cents per share, with revenue ranging from $186 million to $188 million.
Brightcove shares have fallen 7% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $8.07, a fall of 29% in the last 12 months.
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