Blackbaud: Q2 Earnings Snapshot

CHARLESTON, S.C. (AP) — CHARLESTON, S.C. (AP) — Blackbaud Inc. (BLKB) on Tuesday reported second-quarter profit of $21.8 million.

The Charleston, South Carolina-based company said it had net income of 42 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.08 per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.04 per share.

The software and services provider in the nonprofit sector posted revenue of $287.3 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $288.8 million.

Blackbaud expects full-year earnings in the range of $4.12 to $4.38 per share, with revenue in the range of $1.16 billion to $1.19 billion.

Blackbaud shares have dropped slightly more than 7% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $80.36, an increase of 6.5% in the last 12 months.

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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