LogMeIn Earnings: Here’s Why Investors Don’t Like These Results
LogMeIn, Inc. (NASDAQ:LOGM) 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 21.6%.
LogMeIn, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.24 in the quarter versus EPS of $0.19 in the year-earlier quarter.
Revenue: Rose 14.48% to $37 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: LogMeIn, Inc. reported adjusted EPS income of $0.24 per share. By that measure, the company beat the mean analyst estimate of $0.18. It beat the average revenue estimate of $36.73 million.
Quoting Management: “In the fourth quarter, a record number of net new premium subscribers and strong growth in our newer cloud services helped us deliver revenue and earnings per share that exceeded our guidance,” said Michael Simon, president and CEO of LogMeIn. “Year-over-year subscription revenue growth was up 20 percent in the quarter, led by especially strong demand for our Access and Collaboration cloud services, most notably join.me. We also added approximately 27,000 net new premium subscribers, increasing our total premium customers to approximately 462,000, while attracting approximately 2.4 million first time users of our services.”
Key Stats (on next page)…