- ServiceSource (NASDAQ:SREV) surged to $5.70 today after delivering a healthy Q2 beat. On its earnings call (transcript), the recurring revenue management software/services firm guided for Q3 revenue of $57M-$60M and EPS of -$0.05 to -$0.07 vs. a consensus of $57.6M and -$0.08.
- Job cuts/cost controls provided a boost to Q2 EPS: Operating expenses fell 27% Y/Y to $23M. They're expected to be in a range of 24%-25% in Q3. Also: Gross margin rose 410 bps Y/Y to 33.9%. Q3 GM is expected to be in a 25%-28% range vs. 27.3% a year ago. 15 transactions were recorded in Q2, of which 11 for managed services deals.
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Q2 results, PR