Austin software maker Bazaarvoice Inc. saw its shares surge in after-hours trading Thursday after beating Wall Street’s earnings expectations in the fiscal fourth quarter.
The online and social media marketing company said it posted revenue of $50.7 million for the quarter ended April 30. That was a 5 percent jump from the same quarter last year and also topped Wall Street forecasts, as analysts surveyed by Zacks Investment Research had projected revenue of $48.5 million.
Bazaarvoice reported a loss of $6.4 million, or 8 cents per share, compared with a net loss of $8.8 million for the same quarter the previous year. Adjusted for one-time gains and costs, however, net losses for the just-completed quarter were 1 cent per share, the company said. The average estimate of four analysts surveyed by Zacks had been for a loss of 4 cents per share.
Bazaarvoice’s shares soared more than 9 percent in after-hours trading following the earnings release.
Credit: HANDOUT
Credit: HANDOUT
For the full fiscal year, Bazaarvoice reported revenue of $199.8 million, up 4.5 percent from the previous fiscal year. The company said it had a full-year loss of $24.6 million, or 30 cents per share. That compared with a loss of $33.2 million for the previous fiscal year.
Bazaarvoice CEO Gene Austin called the just-finished fiscal year a “pivotal”one for Bazaarvoice.
“We launched a number of new initiatives to position the company for long term growth while simultaneously driving improved operating margin performance,” Austin said in a written statement. “We are uniquely positioned with our broad consumer generated content offerings and shopper advertising and additional solutions to further monetize our network of retailers and brands.”
Founded in 2005, Bazaarvoice sells software that allows businesses to add reviews to their websites and to analyze reviews, ratings, videos and other content posted by customers about their products. The company said said its client count was 1,399 as of the end of the most recent quarter.
In February, the company showed off its new 137,615-square-foot global headquarters in North Austin, which is home to its more than 600 Central Texas employees. Bazaarvoice has more than 800 employees worldwide.
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