LegalZoom Q3 Adj. Profit Misses Street View; Stock Down 8%

(RTTNews) - Shares of LegalZoom.com, Inc. (LZ) are currently slipping nearly 8% in extended trading session on Wednesday after the company's adjusted earnings for the third quarter missed Wall Street estimates.

The company reported third-quarter net loss of $39.68 million or $0.20 per share, compared to net income of $9.41 million or $0.05 per share last year. Adjusted earnings for the quarter were $0.01 per share, down from $0.07 per share last year.

Third-quarter revenues rose 12% to $147.88 million from $131.60 million last year.

Analysts polled by Thomson Reuters estimated earnings of $0.03 per share on revenues of $145.35 million for the quarter.

Looking forward, the company expects revenue of $142 million to $146 million and $575 million to $579 million for the fourth quarter and full year 2021. Analysts currently estimate revenues of $143.62 million and 571.77 million for the periods.

LZ closed Wednesday's trading at $23.79, down $1.03 or 4.15%, on the Nasdaq. The stock further slipped $1.82 or 7.65% in the after-hours trading.