ShoreTel Earnings: Here’s Why Investors are Buying Shares Now
ShoreTel, Inc. (NASDAQ:SHOR) 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 5.26%.
ShoreTel, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.01 in the quarter versus EPS of $-0.03 in the year-earlier quarter.
Revenue: Rose 39.08% to $78.3 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: ShoreTel, Inc. reported adjusted EPS loss of $0.01 per share. By that measure, the company beat the mean analyst estimate of $-0.05. It beat the average revenue estimate of $75.21 million.
Quoting Management: “Rapid expansion in the cloud market this quarter was complemented by steady growth in our premise business. With both of our business lines thriving, we delivered non-GAAP operating profitability for the company,” said Peter Blackmore, CEO of ShoreTel. “ShoreTel Sky generated a 28 percent year-over-year increase in revenue, signed a record number of new customers, and continues to have a best-in-class customer retention rate.”
Key Stats (on next page)…