Blackbaud: Q2 Earnings Snapshot
CHARLESTON, S.C. (AP) — CHARLESTON, S.C. (AP) — Blackbaud Inc. (BLKB) on Tuesday reported second-quarter net income of $2.1 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Charleston, South Carolina-based company said it had profit of 4 cents. Earnings, adjusted for one-time gains and costs, came to 98 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 93 cents per share.
The software and services provider in the nonprofit sector posted revenue of $271 million in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $272.7 million.
Blackbaud expects full-year earnings in the range of $3.63 to $3.94 per share, with revenue in the range of $1.1 billion to $1.13 billion.
Blackbaud shares have risen 28% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $75.07, a rise of 22% 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
