Rapid7 reports 2Q loss

BOSTON (AP) _ Rapid7 Inc. (RPD) on Monday reported a loss of $11.6 million in its second quarter.

On a per-share basis, the Boston-based company said it had a loss of 27 cents. Losses, adjusted for stock option expense and amortization costs, were 14 cents per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 19 cents per share.

The cybersecurity company posted revenue of $47.4 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $46.3 million.

For the current quarter ending in October, Rapid7 expects its results to range from a loss of 18 cents per share to a loss of 16 cents per share.

The company said it expects revenue in the range of $48.9 million to $50.3 million for the fiscal third quarter.

Rapid7 expects full-year results to range from a loss of 64 cents per share to a loss of 61 cents per share, with revenue ranging from $195 million to $198 million.

Rapid7 shares have climbed 24 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $15.06, an increase of almost 5 percent in the last 12 months.


This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on RPD at https://www.zacks.com/ap/RPD


Keywords: Rapid7, Earnings Report