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Workiva: 1Q Earnings Snapshot

AMES, Iowa (AP) _ Workiva Inc. (WK) on Wednesday reported a loss of $7.5 million in its first quarter.

The Ames, Iowa-based company said it had a loss of 17 cents per share. Earnings, adjusted for stock option expense, came to 1 cent per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 4 cents per share.

The maker of software for managing regulatory filings posted revenue of $70 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $69.1 million.

For the current quarter ending in July, Workiva expects its results to range from a loss of 11 cents per share to a loss of 10 cents per share.

The company said it expects revenue in the range of $68.6 million to $69.1 million for the fiscal second quarter.

Workiva expects full-year results to range from a loss of 38 cents per share to a loss of 34 cents per share, with revenue ranging from $284 million to $286 million.

Workiva shares have risen 46% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $52.40, more than doubling 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 WK at https://www.zacks.com/ap/WK