Brightcove (BCOV) Reports In-Line Q2 EPS

Brightcove (NASDAQ: BCOV) reported Q2 EPS of ($0.01), in-line with the analyst estimate of ($0.01). Revenue for the quarter came in at $37 million versus the consensus estimate of $36.07 million.

“Brightcove delivered strong second quarter results that met or exceeded our expectations from both a revenue and profitability perspective,” said David Mendels, Chief Executive Officer of Brightcove. “We are excited by the positive momentum we are seeing across our business, highlighted by the signing of multi-year, multi-million dollar contracts with two media customers, including our first 8 figure contract.”

Mendels continued, “During the second quarter, we demonstrated our commitment to innovation by introducing many exciting new product announcements that address some of the biggest trends in video, including OTT, expanding media delivery across more devices, and social distribution. The product innovation we have brought to market in recent quarters is putting Brightcove in a great position to help customers utilize their video assets to generate better business performance. We are confident that our strategy will drive more revenue growth and profitability over time while generating significant value for our shareholders.”

GUIDANCE:

Brightcove sees Q3 2016 EPS of $0.01-$0.03, versus the consensus of $0.02. Brightcove sees Q3 2016 revenue of $37-37.5 million, versus the consensus of $36.77 million.

Brightcove sees FY2016 EPS of $0.05-$0.08, versus the consensus of $0.06. Brightcove sees FY2016 revenue of $148.3-149.3 million, versus the consensus of $147.3 million.

For earnings history and earnings-related data on Brightcove (BCOV) click here.

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