ChannelAdvisor Earnings: Here’s Why Shares are Up Now
ChannelAdvisor (NYSE:ECOM) had a loss 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 1.71%.
ChannelAdvisor Earnings Cheat Sheet
Revenue: Was the same at $15.97 million as the year-earlier quarter.
Actual vs. Wall St. Expectations: ChannelAdvisor reported adjusted EPS loss of $0.25 per share. By that measure, the company beat the mean analyst estimate of $-0.35. It beat the average revenue estimate of $14.87 million.
Quoting Management: “We delivered a strong second quarter that was highlighted by revenue that grew at approximately twice the rate of e-commerce growth,” said Scot Wingo, Chief Executive Officer of ChannelAdvisor. “We added a record number of new customers during the second quarter and are seeing increasing demand from online retailers for solutions that help manage the growing complexity of a highly fragmented e-commerce landscape. Our highly differentiated cloud-based platform and industry leading domain expertise around e-commerce channels are driving market share gains, and we believe ChannelAdvisor is well positioned to capitalize on the multi-billion dollar market opportunity that is very much in front of us.”
Key Stats (on next page)…