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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
- Blucora Inc (NASDAQ:BCOR) reported second-quarter FY21 revenue growth of 58% year-on-year to $254.3 million, beating the analyst consensus of $252 million.
- Wealth Management revenue grew 40% Y/Y to $162.4 million. Tax Software revenue increased 103% Y/Y to $91.9 million.
- Non-GAAP EPS of $1.28 beat the analyst consensus of $1.14.
- The adjusted EBITDA margin expanded by 2,309 bps to 30.9%.
- Blucora generated $97.3 million in operating cash flow during the six months ended Jun. 30, and held $233 million in cash and equivalents.
- Total client assets ended the quarter up 28% Y/Y to $87.8 billion, with $39.4 billion in advisory assets. Advisory assets increased 49% Y/Y, including $5.3 billion in Avantax Planning Partners (APP) assets.
- Headquarters Advisory Group proposed acquisition would expand the nationwide footprint of Avantax's in-house RIA.
- The wealth management and tax software businesses continue to exceed expectations during the year, both completing a solid Q2, CEO Chris Walters stated.
- Outlook: Blucora sees Q3 revenue of $163.5 million- $168 million compared to the analyst consensus of $164.42 million.
- It sees Q3 non-GAAP EPS loss of $(0.39) - $(0.33) against the analyst consensus loss of $(0.31).
- Price action: BCOR shares traded lower by 8.71% at $15.31 on the last check Wednesday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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