Bright Horizons: Q2 Earnings Snapshot

NEWTON, Mass. (AP) — NEWTON, Mass. (AP) — Bright Horizons Family Solutions Inc. (BFAM) on Tuesday reported second-quarter net income of $20.6 million.

On a per-share basis, the Newton, Massachusetts-based company said it had profit of 35 cents. Earnings, adjusted for one-time gains and costs, were 64 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 59 cents per share.

The child care and early education services provider posted revenue of $603.2 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $577.6 million.

Bright Horizons expects full-year earnings in the range of $2.70 to $2.80 per share, with revenue in the range of $2.35 billion to $2.4 billion.

Bright Horizons shares have risen 50% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $94.78, a rise 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 BFAM at https://www.zacks.com/ap/BFAM