SolarWinds Corp. Falls 6% On Wider Loss In Q2
Shares of SolarWinds Corporation (SWI), a provider of information technology management software products, are down more than 6% after reporting wider loss in the second quarter.
The company reported net loss from continuing operations of $622.12 million or $3.87 per share in the second quarter, wider than $21.89 million or $0.14 per share loss in the same quarter a year ago. SolarWinds had impairment charges of $612.4 million in the latest quarter.
Revenue for the quarter declined to $176.03 million from $176.79 million last year.
Looking forward, the company expects revenue in the range of $180 million to $185 million in the third quarter. Adjusted EPS is expected to be in the range of $0.19 to $0.21.
For the full year, revenue is expected to be in the range of $715 million to $725 million and adjusted EPS to be in the range of $0.81 to $0.86.
SWI, currently at $9.67, touched a new low of $9.63 this morning.
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