WebMD Health misses 3Q profit expectations, tops revenue forecasts
WebMD shares slumped in extended trading Wednesday after the company's quarterly earnings missed estimates.
WebMD reported net income of $9.8 million, or 23 cents per share, in its third quarter.
The results fell short of Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 24 cents per share.
The health information website posted revenue of $143.5 million in the period, surpassing Street forecasts. Analysts expected $143.4 million, according to Zacks.
A year ago, the New York company posted an adjusted profit of $5.2 million, or 10 cents per share, on revenue of $130.9 million.
For the current quarter ending in December, WebMD said it expects revenue in the range of $152 million to $162 million. Analysts surveyed by Zacks had expected revenue of $161.3 million.
The company expects full-year revenue in the range of $570 million to $580 million.
In after-hours trading, shares were down $3.27, or 7.9 percent, at $38. WebMD Health Corp. shares have climbed almost 5 percent since the beginning of the year, as of the close of regular trading.
Elements of this story were generated by Automated Insights using data from Zacks Investment Research. WBMD stock research report from Zacks.
Keywords:WebMD Health,Earnings Report