AppFolio: Q3 Earnings Snapshot
SANTA BARBARA, Calif. (AP) — SANTA BARBARA, Calif. (AP) — AppFolio Inc. (APPF) on Thursday reported third-quarter net income of $26.4 million, after reporting a loss in the same period a year earlier.
The Santa Barbara, California-based company said it had profit of 72 cents per share. Earnings, adjusted for one-time gains and costs, came to 59 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share.
The property management software maker posted revenue of $165.4 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $156.5 million.
AppFolio expects full-year revenue in the range of $608 million to $612 million.
AppFolio shares have risen 68% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $176.77, a climb of 74% 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
