RALEIGH, N.C. (AP) — RALEIGH, N.C. (AP) — Bandwidth Inc. (BAND) on Wednesday reported second-quarter net income of $2.4 million, after reporting a loss in the same period a year earlier.
The Raleigh, North Carolina-based company said it had net loss of 7 cents per share. Earnings, adjusted for one-time gains and costs, came to 37 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 36 cents per share.
The enterprise software developer posted revenue of $219.9 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $217 million.
For the current quarter ending in September, Bandwidth expects its per-share earnings to range from 45 cents to 49 cents.
The company said it expects revenue in the range of $231 million to $235 million for the fiscal third quarter.
Bandwidth expects full-year earnings in the range of $1.71 to $1.79 per share, with revenue ranging from $900 million to $910 million.
Bandwidth shares have more than tripled since the beginning of the year. The stock has more than tripled in the last 12 months.
_____
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
/Microsoft%20headquarters%20By%20Peter.jpeg)
/An%20Intel%20sign%20out%20front%20of%20a%20corporate%20office%20by%20wolterke%20via%20Adobe%20Stock.jpeg)
/A%20close-up%20of%20the%20Broadcom%20logo%20on%20a%20smartphone%20by%20Timon%20via%20Adobe%20Stock.jpeg)
/Chipset%20held%20over%20rush%20hour%20traffic%20by%20Jae%20Young%20Ju%20via%20iStock.jpg)