Duck Creek Technologies Q3 Revenue Outlook Below Estimates, Stock Down 14%

(RTTNews) - Shares of software company Duck Creek Technologies, Inc. (DCT) are down 14 percent on Thursday's after-market trading after the company guided its third-quarter revenue outlook below the Street estimates. For the third quarter, the company expects revenue between $71.0 million and $73.0 million, while 11 analysts currently expect revenues of $76.1 million for the period. In the second quarter, the company posted narrower loss of $0.9 million or $0.01 per share, compared to net loss of $6.4 million or $0.05 per share for the comparable period last year. Excluding items, income was $5.0 million or $0.04 per share for the second quarter, higher than $2.0 million or $0.01 per share a year ago. Revenues rose 22 percent to $76.4 million from $62.7 million last year.

On average, 11 analysts polled by Thomson Reuters expected the company to post earnings of $0.01 per share on revenues of $72.8 million in the second quarter. The stock ended Thursday's trade at $22.12, down $0.36 or 1.56 percent. In after-market, DCT is down $3.19 or 14 percent to $18.93.