BCOV - Brightcove stock slumps after downside quarterly full-year guidance

Brightcove (NASDAQ:BCOV) shares continue the post-earnings pullback after downside third-quarter and full-year forecasts offset the second-quarter beats. For Q2, Brightcove revenue was up 8% year-over-year to $51.5M. Adjusted EPS was $0.11, coming in $0.08 ahead of consensus estimates. For the third quarter, Brightcove forecasts $50.5-51.5M in revenue and $0.01-0.03 EPS. Analysts expected $52.53M and $0.13, respectively. The full-year view includes $211-213M in revenue, below the $214.89M consensus, and $0.30-0.37 EPS versus the $0.48 consensus. "We made good progress across each of our four strategic focus areas that will enhance customer success and retention, accelerate product innovation, and grow our direct and indirect sales efforts. In the near-term, it will take some additional time to complete these initiatives," says Brightcove CEO Jeff Ray. Brightcove shares are currently down 16% to $11.05. Deeper dive: Brightcove Q2 earnings call transcript.

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Brightcove stock slumps after downside quarterly, full-year guidance