BCOV - Brightcove tumbles as Q4 guidance disappoints; CEO to retire

Brightcove (NASDAQ:BCOV) reports Q3 beat on both the top and bottom lines. However, it guides lower for Q4. For Q3, Brightcove revenue was up 6% year-over-year to $52.2M vs. the consensus of $50.9M. Adjusted EPS was $0.05, coming in $0.03 ahead of consensus estimates. For the fourth quarter, Brightcove forecasts $51.0-52.0M in revenue and $0.02-0.04 EPS. Analysts expected $55.19M and $0.07, respectively. The full-year view includes $209.5-210.5M in revenue, below the $212.42M consensus, and $0.32-0.35 EPS versus the $0.35 consensus. "Jeff Ray, Brightcove’s Chief Executive Officer, has informed the Company’s Board of Directors that he intends to retire from Brightcove at the end of 2022 and will step down as CEO and Board Director when his successor is hired". Brightcove shares are currently down 16% to $9.93. Deeper dive: Brightcove Q3 earnings call transcript. Previously (Oct. 27): Brightcove EPS beats by $0.03, beats on revenue.

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Brightcove tumbles as Q4 guidance disappoints; CEO to retire