RALEIGH, N.C. (AP) _ Bandwidth Inc. (BAND) on Thursday reported a first-quarter loss of $1.1 million, after reporting a profit in the same period a year earlier.
The Raleigh, North Carolina-based company said it had a loss of 4 cents per share. Earnings, adjusted for one-time gains and costs, were 4 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 enterprise software developer posted revenue of $68.5 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $63.1 million.
For the current quarter ending in July, Bandwidth expects its results to range from a loss of 1 cent per share to earnings of 1 cent per share.
The company said it expects revenue in the range of $70.2 million to $70.7 million for the fiscal second quarter.
Bandwidth expects full-year results to range from a loss of 3 cents per share to earnings of 3 cents per share, with revenue ranging from $281.6 million to $283.1 million.
Bandwidth shares have increased 27% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $81.56, a rise of 8.5% in the last 12 months.