BroadSoft Stock Falls After Weak Q2 Earnings Guidance

By | May 2, 2016

Scalper1 News

BroadSoft ( BSFT ) early Monday posted Q1 earnings and revenue that topped Wall Street views, but it forecast current-quarter EPS ex items below consensus estimates. BroadSoft stock was down 1% in morning trading in the stock market today , near 38.50, but it had fallen more than 10% earlier. BroadSoft stock broke out of a cup-with-handle base on March 29 at 39.20, but the stock has been testing its 50-day line during the past two trading days. The telecom software maker said it earned 37 cents per share, minus items, in the first quarter, with revenue jumping 31% to $73.1 million. Analysts polled by Thomson Reuters had modeled profit of 26 cents on revenue of $71.7 million. In the current quarter, BroadSoft  forecast EPS  ex items of 25 cents to 40 cents vs. consensus estimates of 44 cents profit. BroadSoft said it expects Q2 revenue of $76 million to $81 million,  vs. analyst expectations of $79.9 million. That’s compared with 43 cents and $43.9 million in Q2 2015. Gaithersburg, Md.-based BroadSoft competes vs. 8×8 ( EGHT ) and RingCentral ( RNG ), as well as much-bigger Microsoft ( MSFT ) and Cisco Systems ( CSCO ). BroadSoft has a highest-possible IBD Composite Rating of 99, putting it among the top 1% of all stocks in such metrics as earnings and sales growth in recent quarters and years. BroadSoft helps big telecoms such as Verizon Communications ( VZ ) and Comcast ( CMCSA ) deliver unified communications , integrating voice, video and text messaging and other forms into a single stream. Scalper1 News

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