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Avalara: 2Q Earnings Snapshot

SEATTLE (AP) _ Avalara Inc. (AVLR) on Wednesday reported a loss of $13.2 million in its second quarter.

The Seattle-based company said it had a loss of 18 cents per share. Losses, adjusted for stock option expense and amortization costs, were 3 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 11 cents per share.

The provider of cloud-based software services posted revenue of $91.3 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $84.6 million.

For the current quarter ending in October, Avalara said it expects revenue in the range of $92.5 million to $93.5 million.

The company expects full-year revenue in the range of $364 million to $366 million.

Avalara shares have more than doubled since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $80.56, an increase of 91% 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 AVLR at https://www.zacks.com/ap/AVLR