Squarespace Reports Loss In Q3 On Higher Income Tax Provision, But Revenue Rises

(RTTNews) - Squarespace, Inc. (SQSP), a website building and online content management company, Tuesday reported a loss of $16.5 million or $0.12 per share for the third quarter, compared with profit of $10.11 million or $0.07 per share in the same quarter a year ago, due to increase in income tax provision.

On average, 10 analysts polled by Thomson-Reuters were expecting earnings of $0.13 per share for the quarter. Analysts' estimates typically exclude special items.

Excluding one-time items, adjusted earnings before interest, taxes, depreciation, and amortization or EBITDA increased to $66.46 million from $43.72 million in the previous year.

Revenue for the quarter grew 18% year over year to $257.06 million from $217.7 million last year. The consensus estimate was for 252.01 million.

For the fourth quarter, the company expects revenue to be in the range of $261 million - $264 million, 14% - 16% up from last year. Analysts see revenue of $256.45 million for the quarter.

For the full year, Squarespace expects revenue to be between $1.002 billion and $1.006 billion, or year-over-year growth of 15% - 16%. The Street expects revenue of $994.28 million.