U.S. Markets open in 8 hrs 8 mins

Blackbaud: 2Q Earnings Snapshot

CHARLESTON, S.C. (AP) _ Blackbaud Inc. (BLKB) on Tuesday reported second-quarter net income of $7.1 million.

On a per-share basis, the Charleston, South Carolina-based company said it had profit of 15 cents. Earnings, adjusted for one-time gains and costs, were 66 cents per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 55 cents per share.

The software and services provider in the nonprofit sector posted revenue of $225.6 million in the period. Its adjusted revenue was $226.4 million, also topping Street forecasts. Four analysts surveyed by Zacks expected $223.9 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 40% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $88.05, a fall of 20% 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