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Blucora, Inc. (BCOR)

  • Fri, May 1, 1:10 PM
    • With shares having gone into earnings more than 50% below their late-2013/early-2014 highs, Blucora's (NASDAQ:BCOR) Q1 beat and in-line guidance are going over quite well: The search engine/tax software provider forecasts Q2 revenue of $114M-$123.5M and EPS of $0.38-$0.48 vs. a consensus of $117.4M and $0.43.
    • Google deal changes contributed to a 45% Y/Y Q1 drop in search/content division revenue to $58.7M. However, tax preparation revenue rose 12% to $81.1M, and Blucora forecasts TaxACT software/service revenue will rise 13% for the whole of 1H15. E-commerce (Monoprice) revenue fell 6% to $35M.
    • A 21% Y/Y drop in GAAP operating expenses to $136.1M provided a lift to EPS. Adjusted EBITDA fell 11% to $50.8M, and is expected to total $20.8M-$24.8M in Q2.
    • Q1 results, PR
    | 1 Comment
  • Aug. 8, 2014, 12:20 PM
    • Though it beat Q2 estimates, Blucora (BCOR -7.9%) is guiding for Q3 revenue of $112.5M-$122.5M and EPS of $0.07-$0.14, below a consensus of $129.7M and $0.21.
    • On the CC (transcript), Blucora noted the HowStuffWorks acquisition is expected to have a near-term impact on margins, and that its core Search & Content ops are "in the midst of a transition that may extend beyond the third quarter," following the partial renewal of a search/ad deal with Google in February (didn't cover mobile AdSense ads).
    • Search & Content revenue fell 16% Y/Y in Q2 to $79.8M. Sales were hurt both by the Google deal changes, and "a technology change [at] search engine partners" that affected WebCrawler's performance.
    • On the bright side, tax preparation sales (TaxACT) grew 17% to $26.5M. E-commerce revenue (Monoprice) grew 5% on an adjusted basis to $35.3M.
    • Q2 results, PR
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  • Jul. 9, 2014, 5:34 PM
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  • May 12, 2014, 5:49 PM
    • Top gainers, as of 5:15 p.m.: RAX +12.4%. HALO +12.4%. DTV +6.2%. TC +5.0%. MBI +4.3%.
    • Top losers, as of 5:15 p.m.: RDEN -16.2%. CALL -5.9%. BCOR -4.4%. OKS -3.6%. AAN -3.4%.
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  • May 2, 2014, 9:18 AM
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  • May 1, 2014, 5:59 PM
    • Blucora (BCOR) expects Q2 revenue of $135M-$145.5M and EPS of $0.46-$0.53, below a consensus of $164.3M and $0.64. The outlook follows the renewal of a Google search/advertising deal that doesn't cover mobile AdSense ads. Shares -8.7% AH. (Q1 results, PR)
    • Maxwell (MXWL) expects Q2 revenue to be "similar" to a Q1 level of $46M; that's favorable to a $42.4M consensus. Though visibility for Chinese plug-in hybrid bus market sales remains "limited," ultracapacitor demand from other markets "remains robust." Shares +1.1% AH. (Q1 results, PR)
    • Audience (ADNC) expects Q2 revenue of $37.5M-$40.5M and EPS of -$0.10 to -$0.14 vs. a consensus of $38.2M and -$0.08. Shares unchanged for now. (Q1 results, PR)
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  • Mar. 31, 2014, 4:05 PM
    • The WSJ reports Blucora (BCOR +3%) is prepping an all-cash bid for struggling specialty electronics retailer Brookstone that would trump a $260M stalking-horse offer ($120M in cash + the assumption of $140M in debt) from private Spencer Spirit Holdings.
    • Sources state Blucora would merge Brookstone with online electronics accessory retailer Monoprice (acquired last year for $180M).
    • Shares remain down 33% YTD, after having sold off due to soft guidance and worries about the terms under which Blucora partially extended its search/ad deal with Google.
    • Previous: Brookstone teetering on bankruptcy
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  • Feb. 21, 2014, 5:37 PM
    • Top gainers, as of 5:15 p.m.: MDCA +13.1%. VCRA +9.8%. BCOR +8.9%. AXLL +8.7%. BRC +5.6%.
    • Top losers, as of 5:15 p.m.: UPL -3.9%. GBX -3.7%. BAH -3.6%. TFX -3.5%. HUM -3.1%.
  • Feb. 21, 2014, 10:11 AM
    • With the ink barely dry on its Q4 report, Blucora (BCOR -8.9%) has disclosed it's partly renewing its search/advertising deal with Google for three years. Google will still deliver results and ads to sites on Blucora's InfoSpace network, with its AdSense platform serving ads to Blucora's PC users. But AdSense will no longer deliver ads to Blucora's mobile users.
    • Blucora says it will turn to other sources, including Yahoo's ad network, to offset the loss of mobile AdSense ads. AdSense PC ads accounted for 85% InfoSpace's search revenue in Q4.
    • The company adds the renewals also includes "revisions to Google’s form of service agreement," and minor changes to legal terms, but insists they aren't expected to have a major impact on results.
    • Earlier this week, SA contributor Gotham City Research raised the possibility Google wouldn't renew its Blucora deal due to policy violations related to malware, click fraud, and illicit content. The author noted such violations could allow Google to end the deal down the line, even if it renews.
    • Blucora's Q4 results, guidance
  • Feb. 20, 2014, 6:05 PM
    • Anadigics (ANAD) expects revenue in seasonally weak Q1 to fall 34%-37% from a Q4 level of $36.3M. That implies a range of $24M-$25M, below a $31.8M consensus. Shares -10.2% AH. (Q4 results, PR)
    • Immersion (IMMR) expects 2014 revenue of $54M-$62M and EPS of $0.27-$0.50 vs. a consensus of $61.3M and $0.47. Excluding a $1.24/share tax benefit, Q4 EPS was $0.02, below a $0.07 consensus. Shares +2.3% AH. (Q4 results, PR)
    • Tremor Video (TRMR) expects Q1 revenue of $29M-$31M, above a $25.5M consensus, and adjusted EBITDA of -$7.5M- to -$6.5M. Full-year guidance is for revenue of $155M-%165M, above a $148.1M consensus, and adjusted EBITDA of -$11M to -$8M. Shares +8.1% AH. (Q4 results, PR)
    • Blucora (BCOR) expects Q1 revenue of $213M-$222M and EPS of $1-$1.06, below a consensus of $223.7M and $1.15. Shares -5% AH. (Q4 results, PR)
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  • Feb. 18, 2014, 12:47 PM
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  • Feb. 18, 2014, 12:11 PM
    • SA contributor Gotham City Research claims at least half of Blucora's (BCOR -15.9%) Web traffic stems from "suspect" sources such as malware, click fraud, and illicit searches (inc. child pornography). The firm predicts over 60% of Blucora's revenue will disappear as search ad partner Google, whose ongoing ad policy overhaul has wreaked havoc on peers, decides it's "better off without Blucora."
    • Gotham asserts Blucora, known as Infospace during the bubble era, has "a storied history of defrauding investors, customers, and vendors," and claims 94.8% of's traffic goes to "a known redirect virus/browser hijacker." It also calls Blucora's current/past business partners "a 'who's who' of the worst malware/click fraud offenders."
    • Over 80% of the traffic from Blucora's top Web properties is said to come from outside of the U.S., yet international markets account for only 1% of revenue. Gotham thinks shares are worth no more than $5, given Google-related risk and ongoing cash burn, and believes they could easily approach $1.
    • Blucora's contract with Google is up for renewal next month. Gotham notes that even if Google renews, it can terminate the deal "in the event of certain violations."
  • Nov. 6, 2013, 12:45 PM
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  • Nov. 6, 2013, 9:15 AM
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  • Nov. 5, 2013, 5:44 PM
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  • Nov. 5, 2013, 5:26 PM
    • Blucora (BCOR) shares surge 9.4% AH after the company beat estimates soundly in Q3, aided in part by its acquisition of Monoline (contribution to e-commerce revenue of $14.6M and net income of $0.9M).
    • Search revenue grew 18% Y/Y to $107.7M, Tax preparation revenue was up 20% to $1.7M, and E-commerce revenue was $14.6M (non-comparable).
    • Adjusted EBITDA of $16.6M was up 37% Y/Y.
    • Management guides for Q4 revenue of $156M-$164M (vs. non-comparable consensus of $137.7M). EPS is seen at $0.34-$0.39 ($0.28).
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Company Description
Blucora Inc is engaged in operating Internet business. It operates an internet Search & Content business, an online Tax Preparation business, and an E-Commerce business providing search services to users, online tax preparation service & sales services.