Bandwidth: 1Q Earnings Snapshot

RALEIGH, N.C. (AP) _ Bandwidth Inc. (BAND) on Thursday reported first-quarter profit of $2 million.

The Raleigh, North Carolina-based company said it had net income of 9 cents per share. Losses, adjusted for one-time gains and costs, came to 12 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 23 cents per share.

The enterprise software developer posted revenue of $53.3 million in the period.

For the current quarter ending in July, Bandwidth expects its results to range from a loss of 19 cents per share to a loss of 17 cents per share.

The company said it expects revenue in the range of $54.8 million to $55.3 million for the fiscal second quarter.

Bandwidth expects full-year results to range from a loss of 51 cents per share to a loss of 44 cents per share, with revenue ranging from $233.5 million to $235 million.

Bandwidth shares have increased 78% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $72.47, 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 BAND at https://www.zacks.com/ap/BAND