Bending Spoons S.p.A. (NASDAQ:BSP) shares fell 1.5% in Thursday premarket trading despite the Milan-based software company reporting second-quarter earnings and revenue above Wall Street expectations. Strong acquisition-driven growth helped more than double quarterly revenue, but a full-year sales outlook below analyst forecasts tempered the market's reaction. Bending Spoons reported adjusted earnings of $0.46 per share for the second quarter, comfortably exceeding the analyst consensus of $0.27 by $0.19.
Revenue reached $704 million, ahead of Wall Street expectations of $685 million and up 126% from $311.1 million in the same quarter of 2025. The sharp year-over-year increase reflected the company's aggressive acquisition strategy, with businesses including AOL, Eventbrite, Harvest, MileIQ, Tractive and Vimeo contributing to reported growth. Organic revenue growth was considerably more modest at 3% during the quarter.
Tractive and WeTransfer were the largest positive contributors, while declining revenue from Remini and Splice partially offset those gains. For the third quarter of 2026, Bending Spoons expects revenue of between $733 million and $745 million. At $739 million, the midpoint of the guidance is slightly ahead of the analyst consensus forecast of $738.6 million.
The company also expects adjusted operating income of between $380 million and $400 million for the third quarter, indicating continued strong profitability as its expanded portfolio contributes to earnings. The near-term outlook therefore remained relatively solid despite greater caution surrounding expectations for the full year. For fiscal 2026, Bending Spoons forecast revenue of between $2.78 billion and $2.82 billion.
The midpoint of $2.80 billion sits below Wall Street's consensus estimate of $2.895 billion, providing a potential explanation for the decline in the shares despite the second-quarter earnings beat. Full-year adjusted operating income is expected to range from $1.46 billion to $1.51 billion. Investors are likely to focus on whether the company can accelerate organic growth across its portfolio, particularly given that acquisitions accounted for much of the substantial increase in reported second-quarter revenue.
Profitability improved significantly alongside the expansion in revenue. Operating income increased 139% year over year to $240 million, while adjusted operating income surged 150% to $381 million. The growth in adjusted operating income outpaced the already substantial increase in revenue, highlighting the company's ability to generate significant earnings from its enlarged software portfolio.
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