SALT LAKE CITY (AP) _ Instructure Inc. (INST) on Monday reported a loss of $20.9 million in its third quarter.
On a per-share basis, the Salt Lake City-based company said it had a loss of 56 cents. Losses, adjusted for stock option expense and amortization costs, were 11 cents per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 19 cents per share.
The educational software developer posted revenue of $68.3 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $68 million.
For the current quarter ending in December, Instructure expects its results to range from a loss of 17 cents per share to a loss of 14 cents per share.
The company said it expects revenue in the range of $67.8 million to $68.8 million for the fiscal fourth quarter.
Instructure expects full-year results to range from a loss of 56 cents per share to a loss of 53 cents per share, with revenue ranging from $257.1 million to $258.1 million.
Instructure shares have climbed 13% since the beginning of the year. In the final minutes of trading on Monday, shares hit $42.48, a rise of 34% in the last 12 months.