Bright Horizons: Q3 Earnings Snapshot
NEWTON, Mass. (AP) — NEWTON, Mass. (AP) — Bright Horizons Family Solutions Inc. (BFAM) on Wednesday reported third-quarter earnings of $40 million.
On a per-share basis, the Newton, Massachusetts-based company said it had profit of 69 cents. Earnings, adjusted for one-time gains and costs, came to 88 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 80 cents per share.
The child care and early education services provider posted revenue of $645.8 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $613.1 million.
Bright Horizons expects full-year earnings in the range of $2.73 to $2.78 per share, with revenue in the range of $2.38 billion to $2.4 billion.
Bright Horizons shares have risen 18% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $74.34, an increase of 14% 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
