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Bandwidth: Q3 Earnings Snapshot
By AP News - Oct 31, 2024, 06:40 AM ET
Last Updated - Oct 31, 2024, 06:40 AM EDT
RALEIGH, N.C. (AP) — RALEIGH, N.C. (AP) — Bandwidth Inc. (BAND) on Thursday reported third-quarter net income of $413,000, after reporting a loss in the same period a year earlier.
The Raleigh, North Carolina-based company said it had profit of 1 cent per share. Earnings, adjusted for one-time gains and costs, were 43 cents per share.
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The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 34 cents per share.
The enterprise software developer posted revenue of $193.9 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $182.1 million.
For the current quarter ending in December, Bandwidth said it expects revenue in the range of $198 million to $208 million.
The company expects full-year revenue in the range of $737 million to $747 million.
Bandwidth shares have risen 30% since the beginning of the year. The stock has increased 90% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BAND at https://www.zacks.com/ap/BAND
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