AUSTIN, Texas (AP) _ Q2 Holdings Inc. (QTWO) on Wednesday reported a loss of $7 million in its first quarter.
The Austin, Texas-based company said it had a loss of 17 cents per share. Losses, adjusted for stock option expense and amortization costs, came to 3 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 7 cents per share.
The provider of online banking software posted revenue of $44.5 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $44.3 million.
For the current quarter ending in July, Q2 Holdings said it expects revenue in the range of $46.9 million to $47.5 million.
The company expects full-year revenue in the range of $192.3 million to $194.3 million.
Q2 Holdings shares have risen 35 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $39, a climb of 65 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 QTWO at https://www.zacks.com/ap/QTWO
Keywords: Q2 Holdings, Earnings Report