The Blucora team ringing the opening bell on Nasdaq in 2012
The Blucora team ringing the opening bell on Nasdaq in 2012

Blucora lived up to its lowly expectations on Thursday as it continued to show declining revenue and profits in Q3.

The company reported a net loss of 5.5 million, down 184 percent from a $6.5 million profit this time last year. Revenues also declined, down 26 percent to $84.8 million.

That came out to an loss per share of 13 cents, which is exactly what analysts predicted.

Bill Ruckelshaus
Bill Ruckelshaus

The company doesn’t expect things to turn around too quickly, as Blucora said it anticipates an even larger net loss next quarter.

The results didn’t come as much of a surprise to investors, and the stock stayed flat around $11.10 per share. That’s down from it’s all-time high above $55 per share during the company’s heyday in 2004.

Blucora has certainly seen better days, but the company is in the middle of redefining itself around a new tax services business.

It already acquired TaxACT for $288 million in 2012, and earlier this month it bought HD Vest for $580 million to double down on the space.

Meanwhile, the company said it would sell off its legacy Internet search businesses and divest both InfoSpace and its e-commerce business Monoprice. CEO Bill Ruckelshaus is also expected to leave the company.

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