Internet Capital Group Earnings: Here’s Why the Stock is Rising Now
Internet Capital Group Inc. (NASDAQ:ICGE) 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 3.07%.
Internet Capital Group Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.09 in the quarter versus EPS of $0.22 in the year-earlier quarter.
Revenue: Rose 48.48% to $53.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Internet Capital Group Inc. reported adjusted EPS loss of $0.09 per share. By that measure, the company beat the mean analyst estimate of $-0.2. It beat the average revenue estimate of $52.64 million.
Quoting Management: “2012 was a year of remarkable accomplishments at ICG from both an operational and strategic perspective,” said Walter Buckley, ICG’s Chief Executive Officer. “We exceeded our revenue guidance and entered 2013 with a strong recurring revenue base that provides the foundation for continued growth and profitability.”
Key Stats (on next page)…