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Blackbaud: 3Q Earnings Snapshot

CHARLESTON, S.C. (AP) _ Blackbaud Inc. (BLKB) on Monday reported third-quarter profit of $4.6 million.

On a per-share basis, the Charleston, South Carolina-based company said it had net income of 9 cents. Earnings, adjusted for one-time gains and costs, came to 56 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 $221.1 million in the period. Its adjusted revenue was $221.4 million, also topping Street forecasts. Four analysts surveyed by Zacks expected $219.6 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 risen 37% since the beginning of the year. In the final minutes of trading on Monday, shares hit $86.38, an increase of 23% 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