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Brightcove: 3Q Earnings Snapshot

BOSTON (AP) _ Brightcove Inc. (BCOV) on Wednesday reported third-quarter net income of $1.3 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Boston-based company said it had net income of 3 cents. Earnings, adjusted for stock option expense and amortization costs, were 11 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 2 cents per share.

The internet video streaming service company posted revenue of $49.1 million in the period.

For the current quarter ending in December, Brightcove expects its per-share earnings to range from 7 cents to 8 cents.

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The company said it expects revenue in the range of $49.5 million to $50.5 million for the fiscal fourth quarter.

Brightcove expects full-year earnings in the range of 29 cents to 30 cents per share, with revenue ranging from $193.2 million to $194.2 million.

Brightcove shares have increased 43% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $12.46, an increase of 23% 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 BCOV at https://www.zacks.com/ap/BCOV