Blackbaud: Q3 Earnings Snapshot
CHARLESTON, S.C. (AP) — CHARLESTON, S.C. (AP) — Blackbaud Inc. (BLKB) on Tuesday reported third-quarter net income of $9 million, after reporting a loss in the same period a year earlier.
The Charleston, South Carolina-based company said it had profit of 17 cents per share. Earnings, adjusted for stock option expense and amortization costs, came to $1.12 per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 97 cents per share.
The software and services provider in the nonprofit sector posted revenue of $277.6 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $277.1 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 increased 11% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $65.40, an increase of 20% 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
