SALT LAKE CITY (AP) _ Instructure Inc. (INST) on Monday reported a loss of $20.7 million in its second quarter.
The Salt Lake City-based company said it had a loss of 56 cents per share. Losses, adjusted for one-time gains and costs, were 16 cents per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 24 cents per share.
The educational software developer posted revenue of $62.9 million in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $62.1 million.
For the current quarter ending in October, Instructure expects its results to range from a loss of 20 cents per share to a loss of 18 cents per share.
The company said it expects revenue in the range of $67.7 million to $68.3 million for the fiscal third quarter.
Instructure expects full-year results to range from a loss of 65 cents per share to a loss of 58 cents per share, with revenue ranging from $258 million to $260 million.
Instructure shares have climbed 5.5% since the beginning of the year. In the final minutes of trading on Monday, shares hit $39.58, a decline of 13% in the last 12 months.