News & Observer
ChannelAdvisor boosts guidance, exceeds expectations in Q2
E-commerce technology company ChannelAdvisor upped its guidance for the full year after reporting second-quarter results that bested analysts’ expectations.
Investors weren’t impressed, however. ChannelAdvisor shares dipped in after-hours trading after the Morrisville company released its latest quarterly earnings.
ChannelAdvisor reported Monday after the markets closed that it generated $20.8 million in revenue in the second quarter, up 30 percent from a year ago. Analysts polled by Thomson Reuters were expecting $20 million in revenue.
ChannelAdvisor reported a net loss of $7.5 million after excluding stock-based compensation, wider than the $4.5 million loss of a year ago but better than Wall Street was expecting. Analysts were projecting, on average, a 31-cent loss per share.
David Spitz, the company’s president and chief operating officer, said during a conference call that it was the fourth consecutive quarter “of accelerating core revenue growth.”
ChannelAdvisor has been aggressively expanding its sales-and-marketing team, forsaking profits in exchange for accelerated growth.
ChannelAdvisor’s cloud-based software enables retailers to integrate and manage online sales across a multitude of sales channels. Customers also use its software to automatically advertise products on search engines such as Google and Yahoo and to promote products on Facebook.
After-hours traders may have been focusing on the customer’s new customer numbers.
Read more here: http://www.newsobserver.com/2014/08/04/4050391/channeladvisors-boosts-guidance.html?sp=/99/104/#storylink=cpy