NEW YORK (TheStreet) -- ChannelAdvisor (ECOM - Get Report) plummeted to a new 52-week low of $16.44 on Tuesday despite the e-commerce company's second-quarter results that surpassed analysts' expectations.
The company reported a 30% year-over-year revenue increase to $20.8 million from $16 million, which beat the $20 million estimate from analysts polled by Thomson Reuters. ChannelAdvisor also reported an adjusted net loss of $7.5 million, or 30 cents a share, compared to a loss of $4.5 million, or 25 cents a share, in the same period one year earlier. This was just narrower than the consensus estimate of a loss of 31 cents a share.
ChannelAdvisor also boosted its full-year revenue guidance to a range of $86 million to $86.7 million from a range of $85 million to $86 million. Analysts expect $85.76 million for the year. The company issued third-quarter revenue guidance in the range of $20.5 million to $20.9 million, while analysts expect $20.86 million.
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The stock was down 28.05% to $16.70 at 12:07 p.m.