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AppFolio posts 1Q profit

GOLETA, Calif. (AP) _ AppFolio Inc. (APPF) on Friday reported first-quarter net income of $660,000, after reporting a loss in the same period a year earlier.

The Goleta, California-based company said it had net income of 2 cents per share. Earnings, adjusted for stock option expense, came to 4 cents per share.

The property management software maker posted revenue of $32.1 million in the period.

AppFolio expects full-year revenue in the range of $136 million to $138 million.

AppFolio shares have increased 9 percent since the beginning of the year. In the final minutes of trading on Friday, shares hit $26, more than doubling 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 APPF at https://www.zacks.com/ap/APPF

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Keywords: AppFolio, Earnings Report