Carbonite (CARB) Tops Q2 EPS by 16c; Guides Above the Street

Carbonite (NASDAQ: CARB) reported Q2 EPS of $0.19, $0.16 better than the analyst estimate of $0.03. Revenue for the quarter came in at $53.4 million versus the consensus estimate of $44.19 million.

“I am very pleased with our progress, especially the expansion of our SMB business which grew approximately 150%. The EVault integration is exceeding expectations, yielding faster and better-than-expected synergies. Market demand for our expanded set of solutions is strong and growing, and I am confident in the team’s ability to continue to drive results,” said Mohamad Ali, President and CEO of Carbonite.

“We delivered strong revenue and bookings growth that drove record profitability in the quarter and resulted in our raised outlook for 2016. Our rapidly growing SMB business now represents the majority of total bookings and the strength of that business is a key driver of our improving financial results,” said Anthony Folger, CFO of Carbonite.

GUIDANCE:

Carbonite sees Q3 2016 EPS of $0.06-$0.10, versus the consensus of $0.06. Carbonite sees Q3 2016 revenue of $45-50 million, versus the consensus of $45.3 million.

Carbonite sees FY2016 EPS of $0.48-$0.52, versus the consensus of $0.33. Carbonite sees FY2016 revenue of $195-205 million, versus the consensus of $185.5 million.

For earnings history and earnings-related data on Carbonite (CARB) click here.

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