JACKSONVILLE, Fla. (AP) — In a story Feb. 9 about Web.com Group's fourth-quarter earnings — generated by Automated Insights using data from Zacks Investment Research — The Associated Press reported erroneously that the company's adjusted earnings were 42 cents a share and missed Wall Street expectations. The company's adjusted earnings were 73 cents a share and beat expectations.
A corrected version of the story is below:
Web.com tops 4Q profit forecasts
Web.com Group tops 4Q earnings, revenue forecasts
JACKSONVILLE, Fla. (AP) — JACKSONVILLE, Fla. (AP) — Web.com Group Inc. (WEB) on Thursday reported fourth-quarter net income of $1.9 million.
The Jacksonville, Florida-based company said it had net income of 4 cents per share. Earnings, adjusted for amortization costs and asset impairment costs, were 72 cents per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 68 cents per share.
The online marketing services provider posted revenue of $187.2 million in the period, topping Street forecasts. Eight analysts surveyed by Zacks expected $187 million.
For the year, the company reported profit of $4 million, or 8 cents per share. Revenue was reported as $710.5 million.
Web.com shares have decreased nearly 7 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $19.75, an increase of 22 percent in the last 12 months.
Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WEB at https://www.zacks.com/ap/WEB
Keywords: Web.com Group, Earnings Report
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