SALT LAKE CITY (AP) _ Instructure Inc. (INST) on Monday reported a loss of $16.1 million in its first quarter.
On a per-share basis, the Salt Lake City-based company said it had a loss of 45 cents. Losses, adjusted for one-time gains and costs, came to 11 cents per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 15 cents per share.
The educational software developer posted revenue of $58.1 million in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $57.2 million.
For the current quarter ending in July, Instructure expects its results to range from a loss of 25 cents per share to a loss of 23 cents per share.
The company said it expects revenue in the range of $61.8 million to $62.4 million for the fiscal second quarter.
Instructure expects full-year results to range from a loss of 68 cents per share to a loss of 58 cents per share, with revenue ranging from $257 million to $260 million.
Instructure shares have increased 25% since the beginning of the year. In the final minutes of trading on Monday, shares hit $46.72, a rise of 17% 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 INST at https://www.zacks.com/ap/INST