Keynote Systems Earnings: Here’s Why the Stock is Down Now
Keynote Systems Inc. (NASDAQ:KEYN) 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 down 0.09%.
Keynote Systems Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 57.14% to $0.09 in the quarter versus EPS of $0.21 in the year-earlier quarter.
Revenue: Decreased 4.22% to $29.3 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Keynote Systems Inc. reported adjusted EPS income of $0.09 per share. By that measure, the company beat the mean analyst estimate of $0.08. It beat the average revenue estimate of $29.03 million.
Quoting Management: Umang Gupta, Chairman and CEO of Keynote, said: “Our second quarter results reflect the operational challenges we discussed during our April 15th call. However, we are pleased to have posted $4.6 million of free cash flow, one of the strongest quarters in several years. Looking forward, we are dedicated to improving our operational effectiveness and furthering our product offerings in order to capture the compelling market opportunities in front of us.”
Key Stats (on next page)…