Instructure: 2Q Earnings Snapshot
SALT LAKE CITY (AP) _ Instructure Inc. (INST) on Monday reported a loss of $12.5 million in its second quarter.
On a per-share basis, the Salt Lake City-based company said it had a loss of 36 cents. Losses, adjusted for one-time gains and costs, came to 24 cents per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 25 cents per share.
The educational software developer posted revenue of $50.1 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $49.5 million.
For the current quarter ending in October, Instructure expects its results to range from a loss of 25 cents per share to a loss of 23 cents per share.
The company said it expects revenue in the range of $53.6 million to $54.2 million for the fiscal third quarter.
Instructure expects full-year results to range from a loss of 93 cents per share to a loss of 87 cents per share, with revenue ranging from $205.1 million to $209.5 million.
Instructure shares have climbed 32 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $43.60, an increase of 38 percent in the last 12 months.