Mindbody: 2Q Earnings Snapshot
SAN LUIS OBISPO, Calif. (AP) _ Mindbody Inc. (MB) on Tuesday reported a loss of $16.9 million in its second quarter.
On a per-share basis, the San Luis Obispo, California-based company said it had a loss of 36 cents. Losses, adjusted for stock option expense and amortization costs, were 6 cents per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 8 cents per share.
The business management software developer posted revenue of $61.6 million in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $60.5 million.
Mindbody shares have increased 23 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $37.35, a rise of 44 percent in the last 12 months.