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Advisory Board misses Street 3Q forecasts

WASHINGTON (AP) _ The Advisory Board Co. (ABCO) on Wednesday reported third-quarter profit of $685,000.

On a per-share basis, the Washington-based company said it had profit of 2 cents. Earnings, adjusted for one-time gains and costs, came to 27 cents per share.

The results did not meet Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.

The consulting company posted revenue of $183.1 million in the period, also missing Street forecasts. Ten analysts surveyed by Zacks expected $202.3 million.

Advisory Board shares have increased 61 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $53.45, an increase of 51 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ABCO at https://www.zacks.com/ap/ABCO