ServiceSource (SREV) Reports In-Line Q2 EPS, Revenues Beat; Offers FY18 Guidance

ServiceSource (NASDAQ: SREV) reported Q2 EPS of $0.01, in-line with the analyst estimate of $0.01. Revenue for the quarter came in at $61.1 million versus the consensus estimate of $59.65 million.

• GAAP revenue for Q2 2018 was $61.1 million, an increase of 4.9%, compared with $58.3 million reported for Q2 2017.
• GAAP net loss for Q2 2018 was $8.9 million or $0.10 per diluted share, favorable compared with GAAP net loss of $13.1 million or $0.15 per diluted share reported for Q2 2017.
• Non-GAAP net income for Q2 2018 was $0.8 million or $0.01 per diluted share, compared with non-GAAP net income of $1.5 million or $0.02 per diluted share reported for Q2 2017.
• Adjusted EBITDA for Q2 2018 was $3.2 million, compared with $4.7 million reported for Q2 2017.

“ServiceSource had another solid quarter that exceeded our top and bottom line expectations, as our teams delivered impressive results for our clients and executed well against our strategic priorities,” said Christopher M. Carrington, CEO of ServiceSource. “We turned in revenue growth that showed strong sequential acceleration, secured more great new logos and valuable client expansions and added to our inside sales and customer success portfolio. Throughout the business, we are seeing continued positive momentum that reaffirms our outlook for the full-year.”

GUIDANCE:

ServiceSource sees FY2018 EPS of $0.09-$0.11, versus the consensus of $0.10. ServiceSource sees FY2018 revenue of $246-249 million, versus the consensus of $247.8 million.

For earnings history and earnings-related data on ServiceSource (SREV) click here.

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