RPX Corp Earnings: Here’s Why Investors are Happy Now
RPX Corp (NASDAQ:RPXC) 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 up 12.25%.
RPX Corp Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 33.33% to $0.24 in the quarter versus EPS of $0.22 in the year-earlier quarter.
Revenue: Rose 21.58% to $51.56 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: RPX Corp reported adjusted EPS income of $0.24 per share. By that measure, the company beat the mean analyst estimate of $0.19. It beat the average revenue estimate of $49.02 million.
Quoting Management:“I want to thank Adam for all of his efforts on behalf of RPX over the past four years,” said John Amster, CEO. “Adam truly enjoys building early stage companies, and he has done a tremendous job creating RPX’s financial infrastructure and helping us progress from a start-up to a successful, publicly-traded company. As RPX has grown, Adam has been looking for the best time to pursue his next opportunity. After a very strong quarter capping a solid year of top and bottom line growth, the timing seemed right for both him and RPX. We wish Adam the best in all of his future endeavors.”
Mr. Amster continued, “Ned Segal has a long history with RPX, including leading our initial public offering. He brings a clear understanding of our business, our operating model and our market. We look forward to benefiting from his creativity and experience as RPX enters the next phase of its growth.”
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