Stock Market Watch

Cvent Swings to a Loss in Q2 (CVT)

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Cloud based event management company, Cvent Inc. (NYSE: CVT) reported after the market close on Monday that it swung to a loss in fiscal second quarter.

For the latest period, Cvent posted a net loss of $2.3 million or 7 cents a share compared to a net income of  0.5 million or a penny a share, in the year-earlier quarter.

Stripping out onetime items, adjusted earnings stood at $1.4 million or 4 cents a share compared to $3.2 million or 9 cents a share, in the same period of last year.

Total revenue climbed 36% to $26.94 million from $19.78 million, in the same quarter of last year.

Analysts surveyed by Thomson Reuters had forecasted earnings of 4 cents a share on revenue of $26.77 million.

For the current quarter, Cvent Inc. anticipates a net loss of 7 cents to 6 cents a share on revenue of $27.5 million to $27.9 million. Core or adjusted earnings are expected to breakeven or a cent, at most. Analysts had expected the company to breakeven on revenue of $27.34 million.

For the fiscal 2013, the Company expects a net loss of 21 cents to 20 cents a share or adjusted earnings of 5 cents to 7 cents a share on revenue of $107.8 million to $108.7 million. Analyst’ most recent estimate was for earnings of 6 cents a share on revenue of $107.31million.

 








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edliston
Post Written By: Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.

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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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