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July 25, 2019, 4:51 p.m. EDT

LogMeIn shares rise roughly 12% after earnings beat

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By Max A. Cherney

SPX

LogMeIn Inc. shares shot up about 12% in the extended session Thursday after the software company beat earnings and revenue estimates. The company reported second-quarter net losses of $6.5 million, or 13 cents a share, compared with net income of $6.6 million, or 12 cents a share, in the year-ago period. Adjusted for items such as stock-based compensation, amortization of acquired intangibles and other items, earnings were $1.17 a share, versus $1.32 a share in the year-ago quarter. Revenue rose to $313.1 million from $305.7 million in the year-ago period. Analysts surveyed by FactSet had estimated adjusted earnings of $1.13 a share on revenue of $311 million. For the third quarter, analysts model adjusted earnings of $1.32 a share on sales of $317 million. LogMeIn said it expects adjusted earnings of $1.35 to $1.37 a share on sales of $314 million to $316 million. LogMeIn stock has fallen 11.3% this year, with the S&P 500 index /zigman2/quotes/210599714/realtime SPX -2.57% rising 20.5%.

/zigman2/quotes/210599714/realtime
US : S&P US
3,750.77
-98.85 -2.57%
Volume: 3.80B
Jan. 27, 2021 4:53p
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