BCOV - Why Brightcove Stock Is Crashing Today
Shares of streaming video technology outfit Brightcove (NASDAQ: BCOV) are down 12.9% as of 12:40 p.m. ET on Thursday following a fiscal fourth-quarter earnings beat that was marred by disappointing guidance.
For the three-month stretch ending in December, telco technology company Brightcove turned $52.6 million worth of sales into per-share operating earnings of $0.10. Both numbers beat expectations; analysts had been calling for a bottom line of only $0.03 per share. However, the top line fell 2% year over year, and earnings were well down from the year-earlier comparison of $0.14 per share, dashing hopes that the company may be doing better than investors had been led to believe.
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Why Brightcove Stock Is Crashing Today