AP NEWS

Workiva: 3Q Earnings Snapshot

November 7, 2018

AMES, Iowa (AP) _ Workiva Inc. (WK) on Wednesday reported a loss of $11 million in its third quarter.

On a per-share basis, the Ames, Iowa-based company said it had a loss of 25 cents. Losses, adjusted for stock option expense, came to 9 cents per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 21 cents per share.

The maker of software for managing regulatory filings posted revenue of $60.9 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $59.8 million.

For the current quarter ending in December, Workiva expects its results to range from a loss of 11 cents per share to a loss of 10 cents per share.

The company said it expects revenue in the range of $62.4 million to $62.8 million for the fiscal fourth quarter.

Workiva expects full-year results to range from a loss of 41 cents per share to a loss of 40 cents per share, with revenue ranging from $242.3 million to $242.7 million.

Workiva shares have climbed 74 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $37.19, a rise of 65 percent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WK at https://www.zacks.com/ap/WK

AP RADIO
Update hourly