Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Constant Contact (CTCT.DL) have popped today by upwards of 19% after the company reported first-quarter earnings.
So what: Revenue in the first quarter totaled $68.2 million, which was only a hair above the consensus estimates for the top line. On the bright side, the online marketer surprised investors with non-GAAP earnings per share of $0.05, which topped the $0.03 per-share loss that the market was expecting. The company also raised its guidance for 2013.
Now what: The increased forecast calls for better profitability on an unchanged sales outlook. Revenue for 2013 should still be in the range of $284 million to $289 million, but non-GAAP earnings per share is expected at $0.14 to $0.17, up from the previous guidance of $0.62 to $0.69 per share. CEO Gail Goodman said the company continues to transition into a multi-product company, and that Constant Contact has seen success converting demand to paying customers.
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