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SolarWinds: 3Q Earnings Snapshot

·1 min read

AUSTIN, Texas (AP) _ SolarWinds Corp. (SWI) on Tuesday reported third-quarter earnings of $12.4 million.

On a per-share basis, the Austin, Texas-based company said it had net income of 4 cents. Earnings, adjusted for one-time gains and costs, were 28 cents per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 24 cents per share.

The provider of information-technology management software posted revenue of $261 million in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $256.4 million.

For the current quarter ending in December, SolarWinds expects its per-share earnings to be 25 cents.

The company expects full-year earnings to be 98 cents per share.

SolarWinds shares have risen 16% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $21.60, an increase of 9% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SWI at https://www.zacks.com/ap/SWI