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Blackbaud: 1Q Earnings Snapshot

CHARLESTON, S.C. (AP) _ Blackbaud Inc. (BLKB) on Tuesday reported a first-quarter loss of $1.1 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Charleston, South Carolina-based company said it had a loss of 2 cents. Earnings, adjusted for one-time gains and costs, were 51 cents per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 50 cents per share.

The software and services provider in the nonprofit sector posted revenue of $215.8 million in the period. Its adjusted revenue was $216.5 million, which also topped Street forecasts. Five analysts surveyed by Zacks expected $211.5 million.

Blackbaud expects full-year earnings in the range of $2.11 to $2.28 per share, with revenue in the range of $880 million to $910 million.

Blackbaud shares have increased 26% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $79.21, a drop of 25% 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 BLKB at https://www.zacks.com/ap/BLKB