WageWorks (NYSE:WAGE) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
WageWorks Earnings Cheat Sheet
Revenue: The company reported revenue of $56.10 million for the quarter, up 26.6 percent year-over-year.
Actual vs. Wall St. Expectations: WageWorks reported adjusted EPS income of $0.20 per share. By that measure, the company beat the mean analyst estimate of $0.16. It missed the average revenue estimate of $54.49 million.
Quoting Management: “WageWorks experienced strong results in the first quarter of 2013, as we continue to execute on our growth strategy,” said Joe Jackson, Chief Executive Officer of WageWorks. “Our unique dedication to pretax health and commuter benefits positions WageWorks well for continued growth, as these cost savings strategies are top of mind for employers, employees and their families.”
Key Stats (on next page)…