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Blackbaud: 3Q Earnings Snapshot

·1 min read

CHARLESTON, S.C. (AP) _ Blackbaud Inc. (BLKB) on Wednesday reported third-quarter earnings of $4.9 million.

The Charleston, South Carolina-based company said it had net income of 10 cents per share. Earnings, adjusted for stock option expense and amortization costs, came to 73 cents per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 70 cents per share.

The software and services provider in the nonprofit sector posted revenue of $215 million in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $220.4 million.

Blackbaud shares have decreased 27% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $57.76, a drop of 33% 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 BLKB at https://www.zacks.com/ap/BLKB