By Yasin Ebrahim
Investing.com — Matterport raised its full-year guidance on revenue Wednesday after reporting mixed quarterly results as revenue fell shy of Wall Street estimates.
Matterport Inc (NASDAQ:) jumped more than 9% following the report.
The augmented reality and virtual reality company a loss of 12 cents per share, beating analysts’ estimates for a loss of 14 cents. Revenue of $28.48 million, fell short of estimates for $29.6 million.
Subscription revenue, which makes up the bulk of growth, rose 20% year-over-year to $18.4 million.
Total subscribers jumped 52% to 616,000.
Looking ahead, the company forecast a third-quarter loss of 13 cents to 15 cents a share on revenue of $35 million to $37 million.
For the full year, revenue guidance was lifted to a range of $132 million to $138 million, from $125 million to $135 million previously, while adjusted earnings were narrowed to a range of $0.46 to $0.50 per share from $0.47 to $0.52 a share.