OpenTable Earnings: Here’s Why Shares are Down Now
OpenTable, Inc. (NASDAQ:OPEN) 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 0.6%.
OpenTable, Inc. Earnings Cheat Sheet
Results: Net income increased 7.3% to $7.5 million (46 cents per diluted share excluding items) in the quarter versus a net gain of $6.99 million in the year-earlier quarter.
Revenue: Rose 15.68% to $43 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: OpenTable, Inc. reported adjusted net income of 46 cents per share. By that measure, the company beat the mean analyst estimate of $0.43. It beat the average revenue estimate of $42.54 million.
Quoting Management: “Our business continued to demonstrate strong momentum in 2012,” said Matt Roberts, President and CEO of OpenTable. “The shift to mobile coupled with richer customer experiences represent long-term opportunities for the business, and we’re pleased with the recent progress in our international segment.”
Key Stats (on next page)…