SALT LAKE CITY (AP) _ Instructure Inc. (INST) on Monday reported a loss of $12.7 million in its first quarter.
On a per-share basis, the Salt Lake City-based company said it had a loss of 44 cents. Losses, adjusted for stock option expense and non-recurring costs, came to 33 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 38 cents per share.
The educational software developer posted revenue of $34 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $32.9 million.
For the current quarter ending in July, Instructure expects its results to range from a loss of 36 cents per share to a loss of 34 cents per share.
The company said it expects revenue in the range of $36.8 million to $37.4 million for the fiscal second quarter.
Instructure expects full-year results to range from a loss of $1.29 per share to a loss of $1.26 per share, with revenue ranging from $150.7 million to $152.2 million.
Instructure shares have risen 23 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $24, an increase of 19 percent 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
Keywords: Instructure, Earnings Report