Why Blucora Shares Got Crushed
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Blucora (NAS: BCOR) have gotten crushed today, down by as much as 21%, after the company reported earnings.
So what: Revenue in the third quarter rose 65%, to $92.9 million, resulting in non-GAAP net income of $10.4 million, or $0.25 per share. Core search revenue was up 62%, with tax preparation revenue of just $1.5 million.
Now what: Fourth quarter guidance callsfor revenue in the range of $92 million and $95 million, with adjusted EBITDA between $10 million and $11 million. Non-GAAP earnings per share next quarter should be in the range of $0.18 to $0.21.CEO Bill Ruckelshaus said the company had strong performance, but apparently investors weren't so impressed.
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The article Why Blucora Shares Got Crushed originally appeared on Fool.com.Evan Niu, CFA, has no positions in the stocks mentioned above. The Motley Fool has no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.