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What: Shares of Blucora (NASDAQ:BCOR) have gotten crushed today, down by as much as 21%, after the company reported earnings.
So what: Revenue in the third quarter rose 65%, to $92.9 million, resulting in non-GAAP net income of $10.4 million, or $0.25 per share. Core search revenue was up 62%, with tax preparation revenue of just $1.5 million.
Now what: Fourth quarter guidance calls for revenue in the range of $92 million and $95 million, with adjusted EBITDA between $10 million and $11 million. Non-GAAP earnings per share next quarter should be in the range of $0.18 to $0.21. CEO Bill Ruckelshaus said the company had strong performance, but apparently investors weren't so impressed.
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