Brightcove: Soars on Q2 revenue beat, surprise profit

Brightcove

22/07/2020 23:26

** Shares of online video platform producer  BCOV.O  surge
18.8% to $9.59 in extended trade - set to open at more than
8-month high if gains hold on Thursday
    ** Co posts Q2 adj profit of 7 cents/shr vs est. loss of 3
cents/shr; Posts Q2 revenue of $47.9 mln, vs est. $44.9 mln 
    ** ** Co forecasts FY 2020 adj. EPS and rev above estimates
    ** At qtr end co had 3,423 customers, of which 2,279 were
premium 
    ** "We are seeing a clear shift in the use of video in the
enterprise, as organizations are now looking for media grade
solutions, where Brightcove is well positioned to deliver" -Jeff
Ray, CEO
    ** * As of last close, BCOV down 7.1% so far this year

 (Reporting by Balakumaran Vinayagam)
 ((balakumaran.vinayagam@thomsonreuters.com))