WidePoint Corporation (NYSE:WYY) shares jumped 16.48% to $10.46 in after-hours trading on Thursday after the Virginia-based secure mobile management provider reported first-quarter results, topping both revenue and earnings per share estimates.
EPS Crushes Estimates by 108%
For the quarter ended Mar. 31, WidePoint posted EPS of $0.01, beating the analyst estimate of negative $0.12 by 108.33%, while revenue of $40.60 million came in 6.66% above the $38.07 million analyst forecast.
The beat marks a notable turnaround, as WidePoint had missed EPS estimates in each of the previous three quarters.
Adjusted EBITDA, a non-GAAP measure, surged 714% year-over-year to $752,000, while free cash flow increased 941% to $674,000.
CEO Jin Kang cited both federal resilience and cost discipline as drivers. …
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