BlackLine: Q1 Earnings Snapshot
WOODLAND HILLS, Calif. (AP) — WOODLAND HILLS, Calif. (AP) — BlackLine, Inc. (BL) on Tuesday reported first-quarter net income of $6.1 million.
On a per-share basis, the Woodland Hills, California-based company said it had profit of 10 cents. Earnings, adjusted for one-time gains and costs, were 58 cents per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 38 cents per share.
The company posted revenue of $166.9 million in the period, which matched Street forecasts.
For the current quarter ending in June, BlackLine expects its per-share earnings to range from 51 cents to 53 cents.
The company said it expects revenue in the range of $170 million to $172 million for the fiscal second quarter.
BlackLine expects full-year earnings in the range of $2.12 to $2.22 per share, with revenue ranging from $692 million to $705 million.
BlackLine shares have dropped 23% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $46.65, a decline of 23% 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 BL at https://www.zacks.com/ap/BL