CHARLESTON, S.C. (AP) — CHARLESTON, S.C. (AP) — Blackbaud Inc. (BLKB) on Wednesday reported a loss of $14.7 million in its first quarter.
The Charleston, South Carolina-based company said it had a loss of 28 cents per share. Earnings, adjusted for one-time gains and costs, were 72 cents per share.
The results surpassed Wall Street expectations. The average estimate of four 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 $261.8 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $258.3 million.
Blackbaud expects full-year earnings in the range of $3.63 to $3.94 per share, with revenue in the range of $1.1 billion to $1.13 billion.
Blackbaud shares have risen 15% since the beginning of the year. The stock has climbed 15% 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 BLKB">Zacks stock report on BLKB at https://www.zacks.com/ap/BLKB