BERWYN, Pa. (AP) — BERWYN, Pa. (AP) — Envestnet Inc. (ENV) on Thursday reported a loss of $1.7 million in its third quarter.
The Berwyn, Pennsylvania-based company said it had a loss of 3 cents per share. Earnings, adjusted for one-time gains and costs, came to 70 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 68 cents per share.
The financial services firm posted revenue of $345.9 million in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $350.3 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 ENV at https://www.zacks.com/ap/ENV