Brightcove Inc. BCOV reported mixed second-quarter fiscal 2017 results wherein the bottom line missed the Zacks Consensus Estimate by a penny but the top line exceeded the same.Adjusted loss (excluding all other one-time items but including stock-based compensation) of 20 cents per share was wider than the Zacks Consensus Estimate of a loss of 19 cents. On a year-on-year basis, this was also higher than the adjusted loss of 5 cents in the second-quarter 2016.On a non-GAAP basis, Brightcove reported diluted net loss of 16 cents per share, compared with the loss of a penny in the year-ago period.However, revenues increased 4.9% from the year-ago quarter to $38.8 million, which outpaced the Zacks Consensus Estimate of $37.2 million.We note that Brightcove shares have fallen 19.2% so far this year, substantially outperforming the industry’s rally of 37.1%.Quarter DetailsThe company’s Professional services and other revenue increased 71.5% year over year to $3.2 million in second-quarter 2017, attributable to several large over-the-top content (OTT) projects.Subscription and support revenue of $35.5 million was up slightly compared with $35.1 million in the year-ago period.Operational DetailsNon-GAAP gross profit for second-quarter 2017 was $22.8 million, down from $24.1 million reported in the year-ago period.The company’s non-GAAP operating loss was $5.5 million, compared with $302,000 reported year over year for second-quarter 2016.Brightcove Inc. Price, Consensus and EPS Surprise Brightcove Inc. Price, Consensus and EPS Surprise | Brightcove Inc. QuoteBalance Sheet & Cash FlowBrightcove exited the quarter with cash and cash equivalents of $28.4 million, compared with $29.2 million as of the previous quarter ended Mar 31, 2017.Cash flow used in operations was $119,000 for second-quarter 2017, compared with cash flow from operations of $2 million in the year-ago quarter.GuidanceThe company provided guidance for third-quarter fiscal 2017.Brightcove expects revenue to be in the range of $37.5–$38.5 million.On a non-GAAP basis, the company anticipates to report diluted net loss in a range of 10–11 cents per share. This figure excludes stock-based compensation of approximately $1.7 million and amortization of acquired intangible assets of approximately $700,000.Zacks Rank & Stocks to ConsiderCurrently, Brightcove carries a Zacks Rank #3 (Hold). Better-ranked stocks in the broader sector include Applied Optoelectronics, Inc. AAOI, Kemet Corp. KEM and IPG Photonics Corp. IPGP. Applied Optoelectronics and Kemet both sport a Zacks Rank #1 (Strong Buy) while IPG Photonics carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank Stocks here.In the trailing four quarters, Applied Optoelectronics, Kemet and IPG Photonics have yielded positive average earnings surprises of 118.33%, 72.92% and 6.12%, respectively.The Hottest Tech Mega-Trend of AllLast year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaries," but that should still leave plenty of money for regular investors who make the right trades early.See Zacks' 3 Best Stocks to Play This Trend >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Brightcove Inc. (BCOV): Free Stock Analysis Report Applied Optoelectronics, Inc. (AAOI): Free Stock Analysis Report Kemet Corporation (KEM): Free Stock Analysis Report IPG Photonics Corporation (IPGP): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research