Business Digest: Austin’s Bazaarvoice sees revenue rise, net loss fall

  • Staff
  • American-Statesman staff
4:57 p.m Wednesday, Sept. 7, 2016 Business

Austin-based Bazaarvoice said first quarter revenue inched up, while the company’s net loss narrowed.

Bazaarvoice, which provides ratings, reviews and analytics software, posted revenue of $50.1 million in the quarter ended July 31, up 2.5 percent from the same quarter a year ago.

The company reported a net loss of $5.1 million, compared with a net loss of $10.2 million in the first quarter last year.

Earnings, adjusted for one-time gains and costs, were less than 1 cent per share. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 4 cents per share.

In after hours trading, Bazaarvoice shares were up 4.6 percent, or 19 cents, to $4.32.

DALLAS — A Houston driller says it has made a big new oil and gas discovery in West Texas.

Apache Corp. officials say there could be 3 billion barrels of oil and 75 trillion cubic feet of natural gas in an area it calls Alpine High. The company announced its discovery Wednesday after two years of drilling in the largely undeveloped region.

Apache said it’s accumulated more than 300,000 acres and drilled 19 wells in Alpine High, a small part of the sweeping and energy-rich Permian Basin of Texas.

CEO John Christmann said the heart of the find, in Reeves County, hasn’t been worked over by oil companies because the geology of the area was considered too complex.

Even on a day when the major U.S. stock indexes barely budged, the market notched another milestone.

The Nasdaq composite eked out a gain, pushing the tech-heavy index to its second record-high close in a row. The Dow Jones industrial average and Standard & Poor’s 500 index drifted in the opposite direction, closing slightly in the red.

Supermarket chains and other consumer-focused companies were among the biggest decliners. Traders bid up shares in energy, technology and airline companies. Crude oil prices rose.

New figures on job openings and a report used by the Federal Reserve to gauge the health of businesses did little to move the market, which has been in a wait-and-see mode as investors gauge the likelihood of further intervention by the Fed.

The Dow dropped 11.98 points, or 0.1 percent, to 18,526.14. The S&P 500 index slipped 0.32 points, or 0.01 percent, to 2,186.16. The Nasdaq gained 8.02 points, or 0.2 percent, to 5,283.93.

Sony is unveiling a slimmer, lighter, cheaper version of its PlayStation 4, as well as a Pro device targeted at hardcore gamers that features high-resolution images and a 1-terabyte hard drive.

The Japanese electronics company revealed the long-rumored updates to its video game console at an event in New York’s Times Square Wednesday.

The slimmer, more energy-efficient PS4 effectively replaces the existing model. It will cost $300, down from $350 for the previous version, and go on sale on Sept. 15 in most markets.

The PlayStation Pro will cost $400 and go on sale Nov. 10, in time for the holiday shopping season. It will offer 4K gaming, displaying hyper-realistic graphics and immersive visuals — as long as it is hooked up to a HDR, or high dynamic range TV. At the same time, Sony executives stressed that gamers will not need a HDR or 4K TV to be able to play games on the console.

Sony says more than 40 million units of the PlayStation 4 have sold to date.

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