Cvent Q1 Profit Rises - Quick Facts

(RTTNews) - Cvent, Inc. (CVT) reported a net income for the first quarter of $1.6 million or $0.04 per share, compared to $0.3 million or $0.01 per share for the year-ago quarter.

Excluding items, adjusted net income for the latest first quarter was $2.5 million or $0.06 per share, compared to $2.1 million or $0.06 per share in the prior year quarter.

Total revenue for the quarter rose 29% to $31.40 million from $24.36 million a year ago.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.01 per share on revenue of $30.89 million for the quarter. Analysts' estimates typically exclude special items.

Looking forward to the second quarter, the company forecasts net loss of $0.06 to $0.05 per share, adjusted loss of $0.01 to breakeven per share and total revenue of $33.3 million to $33.7 million. Analysts currently expect the company to report $0.00 per share on revenue of $33.29 million for the second quarter.

For the full year 2014, the company now expects net loss of $0.17 to $0.14 per share, adjusted earnings in the range of $0.01 to $0.04 per share and total revenue of $138.7 million to $140.3 million. Analysts currently expect the company to earn $0.00 per share on revenue of $138.83 million for the full year 2014.

Earlier, the company expected net loss of $0.27 to $0.23 per share, adjusted results to be profit of $0.03 and loss of $0.01 per share and total revenue of $137.8 million to $139.6 million.