SANTA MONICA, Calif. (AP) _ Cornerstone OnDemand Inc. (CSOD) on Tuesday reported a loss of $3.5 million in its first quarter.
On a per-share basis, the Santa Monica, California-based company said it had a loss of 6 cents. Earnings, adjusted for stock option expense and amortization costs, were 25 cents per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 18 cents per share.
The developer of human-resources software posted revenue of $140.1 million in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $135.3 million.
For the current quarter ending in July, Cornerstone OnDemand said it expects revenue in the range of $137 million to $140 million.
The company expects full-year revenue in the range of $562 million to $570 million.
Cornerstone OnDemand shares have risen roughly 6% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $53.27, a rise of 20% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CSOD at https://www.zacks.com/ap/CSOD