RE:RE:RE:RE:RE:RE:RE:RE:Wesley23 doesn’t care about your feelings snowflakesWhat just happened? See news release before opening below. So we exceeded revenue estimates and earnings estimates and guidance was in line and we are down over 10%. What is going on?
08:14 AM EDT, 11/03/2022 (MT Newswires) -- Lightspeed Commerce (LSPD.TO, LSPD) was up 4.8% in premarket New York trading after the company on Thursday said its fiscal second-quarter narrowed as revenue rose 38%.
The e-commerce services company said it lost C$79.9 million, or C$0.53 per share, in the quarter ended Sept.30, compared with a loss of US$59.1 million, or US$0.43, in the year-prior period. Its adjusted loss, which excludes most one-time items, was US$7.5 million, or US$0.05, topping the average analyst estimate for the measure of a US$0.11 per share adjusted loss, according to Capital IQ.
Revenue rose 38% to US$183.7 million.
The company said the rise in its revenue came on "strong organic growth" and contributions from an acquisition.
"The company has been focused on attracting the right profile of customer, and on expanding Lightspeed Payments adoption," chief financial officer Asha Bakshani said in a release.
Lightspeed expects fiscal third-quarter revenue of between US$185 million and US$190 million.
The company's shares were last seen up US$0.87 to US$18.81 in premarket trading