LegalZoom Shares Skyrocket 15% After Earnings, Revenue Beat Estimates
$LegalZoom(LZ.US$ shares climbed almost 15% after the technology provider of legal, tax and compliance products for small businesses reported fourth quarter adjusted earnings and revenue that beat analysts' average estimate.
Adjusted earnings for the three months ended Dec. 31 rose to 13 cents a share from 10 cents a year earlier, the company said in a press release Thursday. That's higher than the 10 cents expected by analysts surveyed by Capital IQ, according to MT Newswires.
Revenue for the quarter increased 8% to $158.7 million, exceeding the $156.6 million expected by analysts, according to MT Newswires.
The company said yesterday it expects adjusted earnings before interest, taxes, depreciation and amortization to reach $25 million to $27 million in the first quarter. LegalZoom also expected its adjusted EBITDA to reach $135 million to $145 million, up from $118.7 million in 2023.
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