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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

LogMeIn Inc. /zigman2/quotes/209469357/composite LOGM +0.01% 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 +0.06% rising 20.5%.

/zigman2/quotes/209469357/composite
US : U.S.: Nasdaq
$ 85.89
+0.01 +0.01%
Volume: 178,282
Aug. 7, 2020 4:00p
P/E Ratio
493.05
Dividend Yield
1.51%
Market Cap
$4.21 billion
Rev. per Employee
$342,530
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/zigman2/quotes/210599714/realtime
US : S&P US
3,351.28
+2.12 +0.06%
Volume: 2.28B
Aug. 7, 2020 5:10p
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