BOSTON (AP) — BOSTON (AP) — Brightcove Inc. (BCOV) on Wednesday reported first-quarter net income of $1.6 million, after reporting a loss in the same period a year earlier.
The Boston-based company said it had profit of 4 cents per share. Earnings, adjusted for one-time gains and costs, were 1 cent per share.
The internet video streaming service company posted revenue of $50.5 million in the period.
For the current quarter ending in June, Brightcove expects its results to range from a loss of 5 cents per share to a loss of 3 cents per share.
The company said it expects revenue in the range of $47.5 million to $48.5 million for the fiscal second quarter.
Brightcove expects full-year results to range from a loss of 10 cents per share to a loss of 5 cents per share, with revenue ranging from $195 million to $198 million.
In the final minutes of trading on Wednesday, the company’s shares hit $1.89. A year ago, they were trading at $3.65.
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