Altair Engineering: Q2 Earnings Snapshot

TROY, Mich. (AP) — TROY, Mich. (AP) — Altair Engineering Inc. (ALTR) on Thursday reported a loss of $22.3 million in its second quarter.

On a per-share basis, the Troy, Michigan-based company said it had a loss of 28 cents. Earnings, adjusted for stock option expense and amortization costs, were 15 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share.

The company posted revenue of $141.2 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $138.8 million.

For the current quarter ending in September, Altair Engineering said it expects revenue in the range of $126 million to $128 million. Analysts surveyed by Zacks had expected revenue of $150 million.

The company expects full-year revenue in the range of $611 million to $621 million.

Altair Engineering shares have risen 55% since the beginning of the year, while the S&P's 500 index has climbed 17%. In the final minutes of trading on Thursday, shares hit $70.57, an increase of 18% in the last 12 months.

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