CAMBRIDGE, Mass. (AP) _ Pegasystems Inc. (PEGA) on Wednesday reported a loss of $25.4 million in its first quarter.
The Cambridge, Massachusetts-based company said it had a loss of 32 cents per share. Earnings, adjusted for one-time gains and costs, came to 5 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share.
The business software company posted revenue of $265.6 million in the period.
Pegasystems shares have increased 5% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $83.60, a climb of 11% in the last 12 months.