AppFolio: 2Q Earnings Snapshot
SANTA BARBARA, Calif. (AP) _ AppFolio Inc. (APPF) on Monday reported second-quarter net income of $23.2 million.
The Santa Barbara, California-based company said it had net income of 65 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 11 cents per share.
The property management software maker posted revenue of $63.6 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $63.7 million.
AppFolio expects full-year revenue in the range of $253 million to $255 million.
AppFolio shares have climbed 74% since the beginning of the year. In the final minutes of trading on Monday, shares hit $103.18, an increase of 59% in the last 12 months.