What happened Shares of ChannelAdvisor (NYSE: ECOM) have plummeted today, down by 15% as of 1:20 p.m. EDT, after the company reported second-quarter earnings. The results barely beat the market's expectations. So what Revenue in the second quarter was $37.4 million, slightly ahead of the $37.3 million in sales that Wall Street was modeling for. That resulted in adjusted net income of $9.8 million, or $0.33 per share, compared to the consensus estimate of $0.32 per share in adjusted profits. The e-commerce technology company ended the quarter with $63.9 million in cash, up approximately $8 million on a sequential basis. Image source: Getty Images. "Strong revenues were driven by sustained and broad-based growth in GMV as e-commerce spending remained elevated throughout the quarter, consistent with broader e-commerce trends as the COVID-19 pandemic caused a shift in consumer buying behavior," CEO David Spitz said in a statement. "Continued expense discipline and the scalability of our business model contributed to a significant improvement in profitability and cash flow as well." Now what After the close of the second quarter, ChannelAdvisor acquired e-commerce analytics company BlueBoard for an undisclosed amount. The company also established a $25 million revolver that it can tap for general corporate purposes that will be available until August 2023. Guidance for the third quarter calls for revenue of at least $34 million, with adjusted EBITDA of at least $6.5 million. Analysts are expecting ChannelAdvisor to generate $33.2 million in sales in the third quarter. The company declined to provide full-year guidance. "Although it remains difficult to forecast near-term GMV and variable revenues, we believe e-commerce trends are likely to remain strong and that we are well positioned to benefit from these trends," Spitz added. 10 stocks we like better than ChannelAdvisorWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and ChannelAdvisor wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of June 2, 2020 Evan Niu, CFA has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source