RTTNews | Apr 29, 2021 10:47AM EDT

10:47 Thursday, April 29, 2021 (RTTNews.com) - Shares of online video platform provider Brightcove Inc. (BCOV) are falling more than 16% Thursday morning after the company's second-quarter outlook fell short of the Street view.

While reporting their quarterly results, the company said it expects second quarter revenue to be in the range of $49.5 million to $50.5 million and adjusted EPS to be between $0.02 and $0.04. Analysts polled by Thomson Reuters expect the company to report earnings of $0.1 per share on revenue of $51.41 million.

For the full-year, revenue is expected to be in the range of $211.0 million to $217.0 million and adjusted EPS is expected to be between $0.43 to $0.54. The consensus estimate for revenue is $215.26 million and for earnings is $0.5 per share.

Brightcove's first quarter results were, however, better-than-expected.

Net income was $5.1 million, or $0.12 per share, for the first quarter compared with net loss of $7.9 million, or $0.20 per share in the same quarter a year ago.

Excluding items, adjusted earnings were $0.15 per share, that beat consensus estimate at $0.1 per share.

Revenue for the quarter jumped 18% to $54.8 million compared to $46.7 million last year.

BCOV, currently at $16.17, has been trading in the range of $7.43- $25.26 in the past 52 weeks.

Read the original article on RTTNews ( https://www.rttnews.com/3189921/stock-alert-brightcove-declines-16-as-q2-outlook-falls-below-consensus.aspx)

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