Cvent Posts Q3 Loss

(RTTNews) - Cvent, Inc. (CVT) reported a net loss for the third quarter of $0.8 million or $0.03 per share, compared to net income of $1.4 million or $0.04 per share for the year-ago quarter.

Excluding items, adjusted net income for the third quarter was $2.0 million or $0.05 per share, compared to $2.5 million or $0.07 per share in the prior year quarter.

Total revenue for the quarter rose 33% to $29.15 million from $21.84 million a year ago.

Analysts polled by Thomson Reuters expected the company to report breakeven per share on revenue of $27.80 million for the third quarter. Analysts' estimates typically exclude special items.

Looking forward to the fourth quarter, the company forecasts total revenue of $30.0 million to $30.4 million and a net loss of $0.05 to $0.04 per share. Adjusted results for the fourth quarter are expected to range between a loss of $0.01 per share and breakeven per share.

Analysts currently expect the company to report a loss of $0.03 per share on revenue of $29.33 million for the fourth quarter.

For the full year 2013, the company expects total revenue of $110.4 million to $110.8 million, a net loss of $0.13 to $0.12 per share and adjusted earnings of $0.13 to $0.14 per share. Analysts currently expect the company to earn $0.06 per share on revenue of $108.42 million for the full year 2013.