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ChannelAdvisor: 3Q Earnings Snapshot

ChannelAdvisor: 3Q Earnings Snapshot

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Thursday, November 8, 2018

MORRISVILLE, N.C. (AP) _ ChannelAdvisor Corp. (ECOM) on Thursday reported a loss of $2.3 million in its third quarter.

The Morrisville, North Carolina-based company said it had a loss of 8 cents per share. Earnings, adjusted for stock option expense, were 3 cents per share.

The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 3 cents per share.

The provider of cloud-based e-commerce services posted revenue of $32.3 million in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $31.6 million.

For the current quarter ending in December, ChannelAdvisor said it expects revenue in the range of $34.2 million to $35 million.

The company expects full-year revenue in the range of $130.6 million to $131.4 million.

ChannelAdvisor shares have climbed 28 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $11.55, a climb of 35 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ECOM at https://www.zacks.com/ap/ECOM

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