Bandwidth: Q2 Earnings Snapshot

August 3, 2022 GMT

RALEIGH, N.C. (AP) _ Bandwidth Inc. (BAND) on Wednesday reported a loss of $6.2 million in its second quarter.

The Raleigh, North Carolina-based company said it had a loss of 25 cents per share. Losses, adjusted for one-time gains and costs, were 4 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 7 cents per share.

The enterprise software developer posted revenue of $136.5 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $133.1 million.

For the current quarter ending in October, Bandwidth expects its per-share earnings to range from 2 cents to 4 cents.

The company said it expects revenue in the range of $140 million to $142 million for the fiscal third quarter.

Bandwidth expects full-year earnings in the range of 10 cents to 14 cents per share, with revenue ranging from $551 million to $557 million.

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Bandwidth shares have fallen 73% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $19.66, a decrease of 85% in the last 12 months.

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