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WOODLAND HILLS, Calif. (AP) — WOODLAND HILLS, Calif. (AP) — BlackLine, Inc. (BL) on Tuesday reported second-quarter net income of $76.7 million.
On a per-share basis, the Woodland Hills, California-based company said it had net income of 22 cents. Earnings, adjusted for one-time gains and costs, were 58 cents per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 50 cents per share.
The company posted revenue of $160.5 million in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $158 million.
For the current quarter ending in September, BlackLine expects its per-share earnings to range from 49 cents to 52 cents.
The company said it expects revenue in the range of $162 million to $164 million for the fiscal third quarter.
BlackLine expects full-year earnings in the range of $2.08 to $2.21 per share, with revenue ranging from $647 million to $651 million.
BlackLine shares have dropped 29% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $44.09, a decline of 19% 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 BL at https://www.zacks.com/ap/BL