ServiceSource (SREV) Tops Q2 EPS by 2c

ServiceSource (NASDAQ: SREV) reported Q2 EPS of $0.01, $0.02 better than the analyst estimate of ($0.01). Revenue for the quarter came in at $62 million versus the consensus estimate of $60.33 million.

“ServiceSource delivered strong results in the second quarter. Our global team is accelerating performance ahead of plan, resulting in the first quarter of year-over-year revenue growth in more than two years. Our people, process, and technology investments in our Revenue-as-a-Service platform are allowing us to convert opportunities for our clients more effectively and efficiently. This led to revenue, gross margin and EBITDA results that outperformed the upwardly revised guidance provided on June 9, 2016,” said Christopher M. Carrington, CEO of ServiceSource. “In addition to our strong financial performance, we saw sustained progress and positive momentum across all areas of our business. Our sales team closed 25 transactions in the quarter, an all-time record for ServiceSource, which included three new logo wins. Our client relationships continue to strengthen, resulting in business expansions across all five of our target verticals. Lastly, our value proposition is resonating more strongly in the marketplace, positioning ServiceSource as a mission-critical partner for companies looking to succeed in the emerging outcomes-based economy.”

For earnings history and earnings-related data on ServiceSource (SREV) click here.

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