UPDATE 1-Digital River Q2 earnings beat Street; shares rise

miércoles 30 de julio de 2008 23:19 CEST
 

(Recasts; adds details, share movement)

July 30 (Reuters) - Digital River Inc DRIV.O, which manages online businesses, reported a better-than-expected quarterly profit as it benefited from strong growth in its core software business, and forecast a strong third quarter.

Shares of the company, whose customers include Symantec Corp (SYMC.O: Cotización) and Microsoft Corp (MSFT.O: Cotización), rose nearly 7 percent, or $2.67, in trading after the bell. They closed at $39.01 Wednesday on Nasdaq.

Second-quarter net income was $13.2 million, or 33 cents per share, compared with $14.5 million, or 32 cents a share, a year earlier. Revenue rose 26 percent to $98.4 million. Excluding items, it earned 37 cents a share.

Analysts expected earnings of 34 cents a share, excluding exceptional items, on revenue of $91 million, according to Reuters Estimates.

For the third quarter, Digital River forecast earnings of 47 cents a share, excluding items, on revenue of $98.5 million.

Analysts expected earnings of 45 cents a share, excluding exceptional items, on revenue of $96.4 million.

For the year, the company sees earnings of $2 a share on revenue of $410 million. Analysts were looking for earnings of $1.89 a share on revenue of $401.2 million. (Reporting by S John Tilak in Bangalore; Editing by Deepak Kannan)