SAN FRANCISCO (AP) _ ON24 Inc. (ONTF) on Wednesday reported a loss of $2.8 million in its first quarter.
On a per-share basis, the San Francisco-based company said it had a loss of 10 cents. Earnings, adjusted for stock option expense, came to 5 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 1 cent per share.
The webcasting and video communications services provider posted revenue of $50.1 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $48.8 million.
For the current quarter ending in July, ON24 expects its results to range from a loss of 1 cent per share to earnings of 1 cent per share.
The company said it expects revenue in the range of $50.5 million to $51.5 million for the fiscal second quarter.
ON24 expects full-year results to range from a loss of 8 cents per share to a loss of 2 cents per share, with revenue ranging from $207.5 million to $210.5 million.
The Associated Press