CHARLESTON, S.C. (AP) _ Blackbaud Inc. (BLKB) on Wednesday reported second-quarter profit of $11.8 million.
On a per-share basis, the Charleston, South Carolina-based company said it had net income of 24 cents. Earnings, adjusted for one-time gains and costs, came to 85 cents per share.
The results surpassed 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 $232 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $216.1 million.
Blackbaud shares have fallen 29% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $56.55, a fall of 35% in the last 12 months.