Altair Engineering: Q1 Earnings Snapshot

TROY, Mich. (AP) — TROY, Mich. (AP) — Altair Engineering Inc. (ALTR) on Thursday reported a first-quarter loss of $2 million, after reporting a profit in the same period a year earlier.

The Troy, Michigan-based company said it had a loss of 2 cents per share. Earnings, adjusted for one-time gains and costs, were 36 cents per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share.

The company posted revenue of $166 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $157.1 million.