UPDATE: Majesco Entertainment Posts 30% Surge In FQ2 Profit, Lowers Full-Year Forecast
Majesco Entertainment Co (NASDAQ: COOL) reported a 30% rise in its fiscal second-quarter earnings.
The company also cut its full-year earnings forecast by $0.05 per share. It now expects earnings of $0.20 to $0.30 per share
Majesco Entertainment's quarterly profit rose to $2.7 million, or $0.07 per share, versus $2.1 million, or $0.05 per share, in the year-ago period. Its revenue fell 5.4% to $30.4 million.
Analysts were expecting a profit of $0.08 per share on revenue of $30 million.
Majesco Entertainment's gross margin declined to 40% from 42.5%.
Majesco Entertainment shares closed at $1.89 yesterday.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.