Apptio: 2Q Earnings Snapshot
BELLEVUE, Wash. (AP) _ Apptio Inc. (APTI) on Wednesday reported a loss of $5.3 million in its second quarter.
The Bellevue, Washington-based company said it had a loss of 12 cents per share. Earnings, adjusted for one-time gains and costs, came to 1 cent per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 1 cent per share.
The provider of cloud-based business management services posted revenue of $59 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $55.5 million.
For the current quarter ending in October, Apptio said it expects revenue in the range of $57.5 million to $58.5 million.
The company expects full-year revenue in the range of $230 million to $233 million.
Apptio shares have increased 48 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $34.82, an increase of 98 percent in the last 12 months.