BlackLine: Q3 Earnings Snapshot

WOODLAND HILLS, Calif. (AP) — WOODLAND HILLS, Calif. (AP) — BlackLine, Inc. (BL) on Thursday reported third-quarter net income of $11.9 million, after reporting a loss in the same period a year earlier.

The Woodland Hills, California-based company said it had net income of 19 cents per share. Earnings, adjusted for one-time gains and costs, came to 51 cents per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 36 cents per share.

The company posted revenue of $150.7 million in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $149.8 million.

For the current quarter ending in December, BlackLine expects its per-share earnings to range from 52 cents to 58 cents.

The company said it expects revenue in the range of $153 million to $155 million for the fiscal fourth quarter.

BlackLine expects full-year earnings in the range of $1.79 to $1.84 per share, with revenue ranging from $587.5 million to $589.5 million.

BlackLine shares have fallen 24% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $50.88, a decline of 1% 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 BL at https://www.zacks.com/ap/BL