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TYSONS, Va. (AP) _ Appian Corp. (APPN) on Thursday reported a loss of $11.8 million in its second quarter.
On a per-share basis, the Tysons, Virginia-based company said it had a loss of 17 cents. Losses, adjusted for stock option expense and non-recurring costs, were 12 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 25 cents per share.
The business process management software provider posted revenue of $66.8 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $60.5 million.
For the current quarter ending in October, Appian expects its results to range from a loss of 18 cents per share to a loss of 16 cents per share.
The company said it expects revenue in the range of $70.5 million to $71.5 million for the fiscal third quarter.
Appian shares have risen 41% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $53.90, a rise of 35% in the last 12 months.