BroadSoft Down 18% on Weak Q2 Guidance
BroadSoft (NASDAQ: BSFT) is trading lower on the session followings its Q1 earnings and Q2 guidance announcements. The company reported better than expected quarterly profit and revenues, but guided Q2 EPS $0.17-$0.23 vs $0.28 estimates and revenues $36-$38 million vs $38.62 million estimates.
Michael Tessler, president and chief executive officer, BroadSoft stated:"BroadSoft is off to a strong start in 2012, delivering solid first quarter results driven by continued demand for our software and services. We are pleased with the great success our customers are having delivering state-of-the-art communications services based on our core communications platform. We believe our market leadership position and strong demand from our service provider customers will lead to continued business expansion in 2012."
BroadSoft is currently trading at $33.38, a loss of $7.51 or 18.37%.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.