Wageworks Earnings: Here’s Why Investors Don’t Like These Results
Wageworks Inc (NYSE:WAGE) 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 1.81%.
Wageworks Inc Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 33.33% to $0.2 in the quarter versus EPS of $0.15 in the year-earlier quarter.
Revenue: Rose 24.62% to $54.56 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Wageworks Inc reported adjusted EPS income of $0.2 per share. By that measure, the company beat the mean analyst estimate of $0.17. It beat the average revenue estimate of $52.43 million.
Quoting Management: “We are very excited to be working with a company of Ceridian’s outstanding reputation and market reach,” said Joe Jackson, CEO, WageWorks, Inc. “This alliance will allow us to bring WageWorks’ tax-saving Consumer-Directed Benefits to the large number of employers and employees that are already working with Ceridian and taking advantage of their industry-leading offerings in human capital management.”
Key Stats (on next page)…