Latest News by Industry
AUSTIN, Texas (AP) — AUSTIN, Texas (AP) — BigCommerce Holdings, Inc. (BIGC) on Thursday reported a loss of $22.1 million in its first quarter.
On a per-share basis, the Austin, Texas-based company said it had a loss of 30 cents. Losses, adjusted for stock option expense and costs related to mergers and acquisitions, came to 7 cents per share.
The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 13 cents per share.
The company posted revenue of $71.8 million in the period, also beating Street forecasts. Ten analysts surveyed by Zacks expected $71.5 million.
For the current quarter ending in June, BigCommerce said it expects revenue in the range of $72.1 million to $74.1 million.
The company expects full-year revenue in the range of $303 million to $311 million.
BigCommerce shares have decreased 17% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $7.27, a decline of 64% in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a BIGC">Zacks stock report on BIGC at https://www.zacks.com/ap/BIGC