Envestnet: 2Q Earnings Snapshot
CHICAGO (AP) _ Envestnet Inc. (ENV) on Tuesday reported a loss of $5.5 million in its second quarter.
The Chicago-based company said it had a loss of 12 cents per share. Earnings, adjusted for one-time gains and costs, were 41 cents per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.
The financial services firm posted revenue of $201.1 million in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $199.5 million.
For the current quarter ending in October, Envestnet expects its per-share earnings to be 50 cents.
The company said it expects revenue in the range of $202 million to $205 million for the fiscal third quarter.
Envestnet expects full-year earnings in the range of $1.85 to $1.89 per share, with revenue ranging from $812 million to $818 million.
Envestnet shares have climbed 24 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $61.65, a climb of 59 percent in the last 12 months.