Cvent Turns To Profit In Q2; Lifts FY14 Adj. EPS, Revenue Outlook - Quick Facts

(RTTNews) - Cvent, Inc. (CVT) reported second-quarter net income of $992 thousand or $0.02 per share, compared to net loss of $2.3 million or $0.15 per share for the year-ago quarter.

Excluding items, adjusted net income for the latest second quarter was $2.4 million or $0.06 per share, compared to $1.7 million or $0.04 per share in the prior year quarter.

Total revenue for the quarter rose 27% to $34.13 million from $26.94 million a year ago.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.01 per share on revenue of $33.51 million for the quarter. Analysts' estimates typically exclude special items.

Looking forward to the third quarter, the company forecasts net loss of $0.05 to $0.04 per share, adjusted loss of $0.01 to breakeven per share and total revenue of $36.2 million to $36.6 million. Analysts currently expect the company to report a loss of $0.01 per share on revenue of $36.21 million for the third quarter.

For the full year 2014, the company now expects net loss of $0.11 to $0.08 per share, adjusted earnings in the range of $0.04 to $0.06 per share and total revenue of $140.0 million to $141.0 million. Analysts currently expect the company to earn $0.03 per share on revenue of $139.77 million for the full year 2014.

Earlier, the company expected net loss of $0.17 to $0.14 per share, adjusted earnings in the range of $0.01 to $0.04 per share and total revenue of $138.7 million to $140.3 million.