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RealPage shares rise on better-than-expected 3Q

NEW YORK (AP) -- NEWS: Shares of RealPage rose Friday after the provider of real estate software posted third-quarter profit that topped Wall Street expectations.

THE SPARK: RealPage Inc. provides software for apartment management companies and property owners. The company said Thursday that the rental housing market is doing well.

NUMBERS: Net income in the July-September quarter increased to $12.9 million, or 17 cents per share, from $2.1 million, or 3 cents per share, in the same months a year ago.

Excluding one-time items the company said it earned 16 cents per share in the most recent quarter, beating analysts' prediction by a penny.

Revenue rose 18 percent to $98.1 million. Analysts expected $99.7 million, according to FactSet.

FUTURE: The Carrollton, Texas, company expects to earn 16 to 17 cents per share in the current quarter, excluding one-time items. Analysts expect earnings per share of 17 cents for the October-December quarter.

STOCK: Up $1.85, or 7.7 percent, to close at $25.89 Friday.