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Olo Swings to Q1 Profit as Revenue More than Doubles

05/11/2021 12:55

04:49 PM EDT, 05/11/2021 (MT Newswires) -- Olo (OLO) reported after markets closed on Tuesday Q1 non-GAAP EPS of $0.03, compared with $0.01 loss per share a year ago. Analysts polled by Capital IQ had called for EPS of $0.01.

Revenue totaled $36.1 million for the March quarter, more than doubled compared with $16.1 million reported last year. Wall Street was looking for $31.7 million.

Looking ahead, the company said it anticipates Q2 revenue to be in a range of $33.9 million to $34.4 million. Analysts had forecast $32.8 million.

For full-year 2021, Olo said it anticipates revenue in the range of $140.4 million to $141.9 million. That compares with the consensus estimate of $135.4 million.

Shares of the New York-based company rose as much as 1.8% in after-hours trade.

Price: 29.00, Change: +0.51, Percent Change: +1.79