Blucora Q3 Adj. Loss Miss Estimates; Narrows FY22 Outlook Range

(RTTNews) - Financial technology company Blucora, Inc. (BCOR) reported Tuesday a net loss for the third quarter that narrowed to $21.84 million or $0.46 per share from $27.80 million or $0.57 per share in the prior-year quarter.

Excluding items, adjusted loss for the quarter were $0.20 per share, compared to adjusted loss of $0.26 per share in the year-ago quarter.

Total revenue for the quarter edged down 1.4 percent to $171.7 0million from $174.17 million in the same quarter last year.

On average, three analysts polled by Thomson Reuters expected the company to report a loss of $0.16 per share on revenues of $165.14 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2022, the company now projects earnings in a range of $0.73 to $0.83 per share and adjusted earnings in a range of $1.75 to $1.84 per share on total revenues between $909.0 million and $915.0 million.

Previously, the company expected earnings in a range of $0.58 to $0.89 per share and adjusted earnings in a range of $1.71 to $1.90 per share on total revenues between $892.5 million and $916.0 million.

The Street is currently looking for earnings of $1.83 per share on revenues of $903.18 million for the year.

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