Cornerstone OnDemand: 2Q Earnings Snapshot
SANTA MONICA, Calif. (AP) _ Cornerstone OnDemand Inc. (CSOD) on Tuesday reported a loss of $12 million in its second quarter.
On a per-share basis, the Santa Monica, California-based company said it had a loss of 21 cents. Earnings, adjusted for stock option expense and amortization costs, came to 12 cents per share.
The results missed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 13 cents per share.
The developer of human-resources software posted revenue of $132.5 million in the period, which topped Street forecasts. Five analysts surveyed by Zacks expected $128.3 million.
For the current quarter ending in October, Cornerstone OnDemand said it expects revenue in the range of $129 million to $131 million.
The company expects full-year revenue in the range of $520 million to $526 million.
Cornerstone OnDemand shares have increased 43 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $50.68, a rise of 45 percent in the last 12 months.