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Carbon Black shares plunge more than 13% after earnings beat, weak outlook
Carbon Black Inc. shares plunged more than 13% in the extended session Wednesday after the company beat earnings expectations but issued weaker than expected 2019 full-year guidance. The company reported fourth-quarter net losses of $18.6 million, or 27 cents a share, compared with losses of $27.1 million, or $2.51 a share, in the year-ago period. Adjusted for items such as stock-based compensation, losses were 20 cents a share, compared with $1.04 in the year-ago quarter. Revenue rose to $56.9 million from $44.6 million in the year-ago period. Analysts surveyed by FactSet had estimated adjusted losses of 24 cents a share on revenue of $55.7 million. For the first quarter, analysts model adjusted losses of 21 cents a share on sales of $58.5 million; analysts model full-year adjusted losses of 69 cents a share and sales of $256.7 million. Carbon Black said it expects fiscal 2019 adjusted losses of 64 cents to 61 cents a share on revenue of $240 million to $244 million. Carbon Black stock has fallen 24% in the past six months, with the S&P 500 index falling 2.7%.
Source : MTV
