AP NEWS

Blackbaud: 2Q Earnings Snapshot

July 30, 2018

CHARLESTON, S.C. (AP) _ Blackbaud Inc. (BLKB) on Monday reported second-quarter earnings of $6.6 million.

On a per-share basis, the Charleston, South Carolina-based company said it had profit of 14 cents. Earnings, adjusted for one-time gains and costs, were 69 cents per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 67 cents per share.

The software and services provider in the nonprofit sector posted revenue of $213.7 million in the period, which did not meet Street forecasts. Seven analysts surveyed by Zacks expected $214.2 million.

Blackbaud expects full-year earnings in the range of $2.75 to $2.88 per share.

Blackbaud shares have increased 16 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $109.42, a rise of 19 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 BLKB at https://www.zacks.com/ap/BLKB

AP RADIO
Update hourly