SeaChange International climbs on smaller Q2 loss, upbeat revenue

Tiber Ventures

14/09/2021 13:48

** Shares of video content distributor  SEAC.O  jump 11.9%
to $1.22 premarket, set to open at their highest level since
July 7 
    ** SEAC posts narrower-than-expected Q2 loss of 3 cents,
while rev. of $6.54 mln tops Refinitiv est. of $5.02 mln, helped
by growth in product and services rev. and lower operating
expenses  urn:newsml:reuters.com:*:nGNX91qFkg
    ** Product revenue jumped 67% to $2.7 mln, while services
revenue came in at $3.8 mln, a 12% increase sequentially
    ** Co beats rev. est. for third straight qtr, tops EPS
expectations for fourth consecutive qtr - Refinitiv data
    ** One brokerage rates the stock "buy", and one "hold";
their median PT is $3 
    ** As of last close, stock down 22.1% YTD

 (Reporting by Devik Jain in Bengaluru)
 ((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780;
outside U.S. +91 80 6182 2062; ;))