BroadSoft Earnings: Here’s Why Investors Like These Results
BroadSoft, Inc. (NASDAQ:BSFT) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 8.02%.
BroadSoft, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 37.93% to $0.18 in the quarter versus EPS of $0.29 in the year-earlier quarter.
Revenue: Rose 3.29% to $39.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: BroadSoft, Inc. reported adjusted EPS income of $0.18 per share. By that measure, the company beat the mean analyst estimate of $0.11. It beat the average revenue estimate of $38.6 million.
Quoting Management: “I am pleased with both our financial performance and the progress we made against our strategic objectives in the first quarter,” said Michael Tessler, president and chief executive officer, BroadSoft. “The undeniable shift by enterprises from premise-based PBX solutions to cloud-based, mobile-centric unified communications is a significant opportunity for our service provider customers. In the first quarter, we had an increasing number of customers further leverage their investment in our UC-One platform in order to meet this demand. We also had significant interest in our BroadCloud PBX capabilities, as many existing and prospective customers are investigating the accelerated time-to-market benefits of this service delivery platform in order to rapidly capitalize on this growing market trend.”
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