Envestnet: Q2 Earnings Snapshot

Associated Press Finance
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BERWYN, Pa. (AP) — BERWYN, Pa. (AP) — Envestnet Inc. (ENV) on Thursday reported a loss of $21.4 million in its second quarter.

The Berwyn, Pennsylvania-based company said it had a loss of 39 cents per share. Earnings, adjusted for one-time gains and costs, came to 46 cents per share.

The results met Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of 46 cents per share.

The financial services firm posted revenue of $312.4 million in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $315.1 million.

For the current quarter ending in September, Envestnet expects its per-share earnings to range from 52 cents to 54 cents.

The company said it expects revenue in the range of $316 million to $319 million for the fiscal third quarter.

Envestnet expects full-year earnings in the range of $2.09 to $2.15 per share, with revenue ranging from $1.25 billion to $1.26 billion.

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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 ENV at https://www.zacks.com/ap/ENV

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