Cvent -9% AH following Q2 report; guidance disappoints

Cvent (CVT) expects Q3 revenue of $27.5M-$27.9M and EPS of $0.00-$0.01, largely above a consensus. 2013 guidance is for revenue of $107.8M-$108.7M and EPS of $0.05-$0.07 vs. a consensus of $107.3M and $0.06.

Platform Subscription revenue +35% Y/Y in Q2 to $18.8M. Marketing Solutions (advertising) +39% to $8.1M. Opex +52% Y/Y, above rev. growth of 36%.

Following a strong IPO and subsequent run-up that left the online event management platform's shares trading at 16.2x 2013E revenue going into earnings, expectations were very high.

Q2 results, PR

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