WASHINGTON (dpa-AFX) - Blucora, Inc. (BCOR) on Wednesday reported net income of $31.6 million, or $0.64 per share in the second quarter, down from 49.6 million or $1.03 per share in the same quarter a year ago.
The company realized an income tax benefit of 59.54 million in last year's second quarter.
Excluding items, earnings were $1.28 per share compared with $0.09 last year. Analysts polled by Thomson Reuters expected the company to report earnings of $1.14 per share. analysts' estimates typically exclude special items.
Revenue for the quarter increased 58% to $254.31 million from $161.12 million in the year-ago quarter, helped by 40% growth in wealth management and 103% increase in tax software businesses. The consensus estimate was for $252 million.
Looking forward to the third quarter, the company expects revenue to be in the range of $163.5 million - $168.0 million and adjusted loss per share to be in the range of $0.39 - $0.33. Analysts expect the company to rep ort loss of $0.31 per share on revenue of $164.42 million for the quarter.
For the full-year, revenue is expected between $855.0 million and $876.0 million and adjusted EPS to be between $1.52 and $1.70. The consensus estimate for earnings is at $1.59 per share and for revenue is at $866.77 million.
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