hit...and missed...and hit again: It hit on some fourth-quarter profit. It missed on revenues that fell short of expectations. It hit on an EPS of 6 cents -- which beat analysts' expectations of a penny.
And then, after announcing all of this following the closing bell Tuesday, The Miami-based IT company hit one last time -- when investors gave the earnings report a thumbs up in after-market trading.
Revenues landed at $68.9 million, which was a 21% increase from the year over period, but still short of analysts' projections of over $74 million. Yet according to the company's release, Terremark added $31.8 million in new annual contract value and 46 new customers in the quarter.
Investors flooded the stock during the day, quadrupling its average volume and increasing share price more than 7%, or 33 cents, in anticipation of the announcement. The stock closed at $4.80 by closing. The share price increased another 5%, or 25 cents, at the beginning of after-hours trading.
On the same day,
, an IT supplier, bought an equity stake in Terremark for $20 million. The 4 million shares at $5 per will represent a 5% ownership stake for VMware. Shares for VMware shot up 76 cents, or 2.67%, by closing.
Terremark went on to offer subdued projections for the next quarter, saying revenues will likely land between $63 million to $66 million, and EBITDA earnings to land between $15 million to $17 million.
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