Q2 Holdings: 1Q Earnings Snapshot

AUSTIN, Texas (AP) _ Q2 Holdings Inc. (QTWO) on Wednesday reported a loss of $34.1 million in its first quarter.

The Austin, Texas-based company said it had a loss of 70 cents per share. Losses, adjusted for one-time gains and costs, were 9 cents per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 12 cents per share.

The provider of online banking software posted revenue of $92.4 million in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $92.1 million.

For the current quarter ending in July, Q2 Holdings said it expects revenue in the range of $92.7 million to $94.7 million.

The company expects full-year revenue in the range of $388.7 million to $395.7 million.

Q2 Holdings shares have climbed 1% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $82.02, a rise of 11% 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 QTWO at https://www.zacks.com/ap/QTWO