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Why Brightcove Stock Plunged Today

TheMotleyFool

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Why Brightcove Stock Plunged TodayPhoto, wide shot, wide-angle lens, Cloud computing provider, Midday, harsh overhead sunlight, directional sunlightt, photo by Thomas Heaton: https://img.midjourneyapi.xyz/temp/893880f6-c6d9-4518-b1a0-f0be05207ac4.png

Shares of Brightcove, Inc. (NASDAQ: BCOV), a cloud-based video platform company, tumbled today after it reported second-quarter 2021 results late yesterday. Although the company beat Wall Street's consensus earnings and revenue estimates, investors appear to be unhappy with the its third-quarter and full-year outlook.

The tech stock fell by as much as 18.2%, and was down by 16.1% as of 3:03 p.m. EDT.

Brightcove's revenue increased by 7% to $51.5 million in the second quarter, outpacing analysts' consensus estimate of $50.1 million. Additionally, the company blew past Wall Street's non-GAAP earnings estimate of $0.03 per share and instead reported earnings of $0.11 per share.

Source Fool.com

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