MOUNTAIN VIEW, Calif. (AP) _ MobileIron Inc. (MOBL) on Wednesday reported a loss of $12.7 million in its first quarter.
On a per-share basis, the Mountain View, California-based company said it had a loss of 11 cents. Losses, adjusted for stock option expense and restructuring costs, were 4 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 7 cents per share.
The IT company for mobile applications industry posted revenue of $49.7 million in the period.
For the current quarter ending in July, MobileIron said it expects revenue in the range of $49 million to $52 million.
In the final minutes of trading on Wednesday, the company's shares hit $4.81. A year ago, they were trading at $5.93.