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AUSTIN, Texas (AP) — AUSTIN, Texas (AP) — Q2 Holdings Inc. (QTWO) on Wednesday reported a loss of $11.8 million in its third quarter.
On a per-share basis, the Austin, Texas-based company said it had a loss of 20 cents. Earnings, adjusted for stock option expense and amortization costs, were 28 cents per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.
The provider of online banking software posted revenue of $175 million in the period, exceeding Street forecasts. Six analysts surveyed by Zacks expected $173.3 million.
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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 QTWO at https://www.zacks.com/ap/QTWO