Blackbaud: Q2 Earnings Snapshot
CHARLESTON, S.C. (AP) _ Blackbaud Inc. (BLKB) on Tuesday reported a second-quarter loss of $3.4 million, after reporting a profit in the same period a year earlier.
The Charleston, South Carolina-based company said it had a loss of 7 cents per share. Earnings, adjusted for one-time gains and costs, came to 75 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 69 cents per share.
The software and services provider in the nonprofit sector posted revenue of $264.9 million in the period.
Blackbaud expects full-year earnings in the range of $2.43 to $2.63 per share, with revenue in the range of $1.05 billion to $1.07 billion.
Blackbaud shares have fallen 22% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $61.31, a decline of 13% in the last 12 months.