Bandwidth (NASDAQ:BAND) announced its quarterly earnings data on Tuesday. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.15, MarketWatch Earnings reports. Bandwidth had a net margin of 9.58% and a return on equity of 13.25%. The company had revenue of $50.50 million during the quarter, compared to analyst estimates of $47.94 million. During the same period in the previous year, the business earned $0.15 EPS. The firm’s revenue for the quarter was up 22.3% on a year-over-year basis. Bandwidth updated its Q4 guidance to ($0.30)-($0.28) EPS.
BAND traded up $1.43 during mid-day trading on Wednesday, reaching $51.00. 5,392 shares of the company traded hands, compared to its average volume of 109,455. The firm has a market cap of $923.19 million and a PE ratio of 106.47. Bandwidth has a 52-week low of $18.05 and a 52-week high of $57.00.
In other Bandwidth news, Director Henry R. Kaestner sold 8,750 shares of the business’s stock in a transaction on Monday, August 13th. The shares were sold at an average price of $43.96, for a total transaction of $384,650.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder James A. Bowen sold 350,000 shares of the business’s stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $42.00, for a total transaction of $14,700,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 459,471 shares of company stock valued at $19,568,660. Company insiders own 48.62% of the company’s stock.
Bandwidth Company Profile
Bandwidth Inc operates as a cloud-based software-powered communications platform-as-a-service (CPaaS) provides in the United States. The company operates through two segments, CPaaS and Other. Its platform enables enterprises to create, scale, and operate voice or text communications services across mobile application or connected device.
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