Brightcove: 4Q Earnings Snapshot

BOSTON (AP) _ Brightcove Inc. (BCOV) on Wednesday reported fourth-quarter net income of $2 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Boston-based company said it had net income of 5 cents. Earnings, adjusted for stock option expense and restructuring costs, were 14 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 6 cents per share.

The internet video streaming service company posted revenue of $53.7 million in the period.

For the year, the company reported that its loss narrowed to $5.8 million, or 15 cents per share. Revenue was reported as $197.4 million.

For the current quarter ending in April, Brightcove expects its per-share earnings to range from 9 cents to 11 cents.

The company said it expects revenue in the range of $53 million to $54 million for the fiscal first quarter.

Brightcove expects full-year earnings in the range of 44 cents to 56 cents per share, with revenue ranging from $211 million to $217 million.

Brightcove shares have climbed 11% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $20.34, more than doubling 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 BCOV at https://www.zacks.com/ap/BCOV