J2 Global (JCOM) Tops Q1 EPS by 1c

J2 Global (NASDAQ: JCOM) reported Q1 EPS of $1.40, $0.01 better than the analyst estimate of $1.39. Revenue for the quarter came in at $332.4 million versus the consensus estimate of $331.98 million.

BUSINESS OUTLOOK

Due to the global impact of COVID-19, the Company is withdrawing its previously issued financial guidance for fiscal 2020. Moreover, the Company believes that business projections should be evaluated on a near-term basis. Based on our current performance and expectations, we anticipate Q2 2020 revenues to be slightly down versus Q2 2019 and Adjusted EBITDA and Adjusted non-GAAP EPS to be down single digit percentages versus Q2 2019. At this time, we have limited visibility into the macroeconomic factors that would inform our financial projections for Q3 and Q4 2020.

The Company has not reconciled the Adjusted non-GAAP earnings per diluted share and any related tax rate information included in this release to the most directly comparable GAAP measure because this cannot be done without unreasonable effort due to the variability with respect to costs related to acquisitions and taxation, which are potential adjustments to future earnings. We expect the variability of these items to have a potentially unpredictable and significant impact on our future GAAP financial results.

For earnings history and earnings-related data on J2 Global (JCOM) click here.

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