AppFolio: Q1 Earnings Snapshot
SANTA BARBARA, Calif. (AP) — SANTA BARBARA, Calif. (AP) — AppFolio Inc. (APPF) on Thursday reported first-quarter net income of $31.4 million.
On a per-share basis, the Santa Barbara, California-based company said it had profit of 86 cents. Earnings, adjusted for one-time gains and costs, came to $1.21 per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.22 per share.
The property management software maker posted revenue of $217.7 million in the period, which also missed Street forecasts. Four analysts surveyed by Zacks expected $221.6 million.
AppFolio expects full-year revenue in the range of $920 million to $940 million.
AppFolio shares have declined roughly 5% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $234.65, a rise of almost 9% 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 APPF at https://www.zacks.com/ap/APPF