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Stockreport

LogMeIn stock rally 10% on company's earnings beat, raised guidance [MarketWatch]

LogMeIn, Inc (LOGM)  More Company Research Source: MarketWatch
Last logmein, inc earnings: 10/25 04:08 pm Check Earnings Report
PDF LogMeIn stock rally 10% on company's earnings beat, raised guidance Shares of LogMeIn rose 10% in the extended session Thursday after the software and cloud-computing company reported third-quarter earnings that beat Wall Street expectations and raised its outlook for the year. LogMeIn said it earned $12.7 million, or 24 cents a share, in the quarter, compared with $10 million, or 19 cents a share, in the year-ago period. Adjusted for one-time items, the company earned $72.9 million, or $1.40 a share, compared with $62 million, or $1.16 a share, a year ago. Revenue rose to $310 million from $276 million a year ago. Analysts polled by FactSet had expected adjusted earnings of $1.34 on sales of $303 million. The company's communications and collaboration business had "renewal rates return to historical levels," Chief Executive Bill Wagner said in a statement. LogMeIn said it expects fourth-quarter GAAP revenue between $305 million and $306 million, and a fourth-quarter profit between $1 [Read more]

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