Earnings roundup: AVG Technologies raises outlook, ServiceSource beats estimates

Earnings roundup: AVG Technologies raises outlook, ServiceSource beats estimates

Summary: Hot on the heels of picking up Mozilla's former CEO, AVG Technologies turned in its second quarter report after the bell.

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The current earnings season for the tech industry is finally winding down as we hit the dead of summer. Following LinkedIn earlier today, let's take a look at who else reported on Thursday after the bell.

Hot on the heels of picking up Mozilla's former CEO, AVG Technologies turned in its second quarter report after the bell.

The network security solutions provider reported a second quarter net income of $21.7 million, or 39 cents per share (statement). Non-GAAP earnings rang up to 54 cents per share on a revenue of $100.4 million, up 22 percent from the same quarter last year.

Still, Wall Street was looking for earnings of 42 cents per share with $100.50 million in revenue.

Noting the recent appointment of Kovacs, CFO John Little reflected on the quarter in prepared remarks:

We closed the quarter with 155 million active users, a year over year increase of 21 percent, including 44 million mobile users, up nicely over the first quarter. We remain confident in the opportunity ahead with mobile as the cornerstone of our multi-platform, multi-screen strategy

For the third quarter, Wall Street expects AVG to deliver $104.37 million in revenue with non-GAAP earnings of 46 cents per share.

AVG offered guidance of $100 million to $104 million in revenue for Q3 with non-GAAP earnings expected to fall between 44 and 49 cents per share.

For the year, AVG boasted that it raised its outlook to $416 million to $427 million in revenue with earnings between $2.00 and $2.10 per share.

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ServiceSource reported a second quarter net loss of $4.9 million, or six cents per share (statement). Non-GAAP earnings rang up to two cents per share on a revenue of $67.7 million, up 13 percent annually.

Wall Street was looking for earnings to flatten out at zero cents per share with $64.89 million in revenue.

Total subscription bookings were also up by approximately 40 percent on a quarterly basis.

CEO Mike Smerklo highlighted the Renew OnDemand cloud platform in prepared remarks -- especially in regards to one major partner:

We're proud to announce that Dell is live on Renew OnDemand as part of a global implementation. Dell is building solutions and partnering with leading companies to leverage the cloud and big data as part of their strategy to get closer to their customers.

For the third quarter, Wall Street expects ServiceSource to deliver $65.76 million in revenue with non-GAAP earnings of two cents per share.

Topics: Tech Industry, Cloud, Networking, Security, Enterprise 2.0

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