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Carbonite Earnings: CARB Stock Crumbles on Mixed Q2, Weak Outlook

Carbonite (NASDAQ:CARB) rolled out its latest quarterly earnings results early Friday, amassing results that were mixed overall, while the company’s 2019 outlook left something to be desired, pushing CARB stock downward.

Carbonite Earnings
Source: Shutterstock

The Boston, Mass.-based company announced fiscal 2019 second-quarter results that include a loss of $11.3 million, or 33 cents per share. When adjusting for one-time gains and costs, the company brought in a profit of 56 cents per share during the three-month period.

This marked a 24.4% gain when compared to Carbonite’s profit from the same quarter a year ago. Wall Street was calling for the company to bring in an adjusted profit of 47 cents per share, according to a survey of five analysts compiled by Zacks Investment Research.

On the revenue side of things, the business brought in adjusted sales of $135.05 million, which was a touch below the Wall Street consensus guidance, according to the Zacks poll–non-adjusted revenue was $121.5 million. This amount is stronger than the $77.73 million that Carbonite amassed during its second quarter of 2019.

For the current quarter, the business is calling for sales in the range of $131 million and $133 million. For the fiscal year, Carbonite predicts revenue somewhere between $477.5 million and $482.5 million.

The company has topped the consensus earnings per share guidance four times during the last four quarters.

CARB stock is sinking about 23.6% on Friday following these results.

Article printed from InvestorPlace Media, https://investorplace.com/2019/07/carbonite-earnings-carb-stock/.

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