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#BlackoutTuesday Roku Channel launches 100 free live TV channels Facebook employees stage virtual walkout PS5 event delayed Apple stores close amid widespread protests Rick and Morty season finale beats estimates, sees profitability in 4Q posted a smaller-than-expected loss in its third quarter Tuesday, losing $4.7 million, or 7 cents a share, on sales of $17.3 million. It also said it expects to reach profitability in the fourth quarter.

First Call Corp. consensus expected the e-commerce software and services provider to lose 17 cents a share in the quarter.

Ahead of the earnings report, (Nasdaq: PPRO) shares fell $4.50 to $40.25.

In the year-ago quarter, lost $3.7 million, or 12 cents a share, on sales of $1.7 million.

"The company's continuing trend of record financial results further positions PurchasePro as a leading provider of e-commerce solutions," said CEO Charles Johnson, Jr. in a prepared release. "Because of our recurring revenue model, we will begin the fourth quarter with a significant percentage of the revenue generated in the third quarter. As a result, we are advancing our profitability estimate to the fourth quarter."

Last quarter, posted a loss of $7.1 million, or 22 cents a share, on sales of $9.5 million.

Its shares moved up to a 52-week high of $87.50 in December after bottoming out at $9.13 last October.

All eight analysts following the stock rate it either a "buy" or "strong buy."

First Call Corp. consensus expects the company to lose 56 cents a share in the fiscal year.