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RALEIGH, N.C. (AP) — RALEIGH, N.C. (AP) — Bandwidth Inc. (BAND) on Wednesday reported a loss of $3.7 million in its first quarter.
The Raleigh, North Carolina-based company said it had a loss of 13 cents per share. Earnings, adjusted for one-time gains and costs, were 36 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share.
The enterprise software developer posted revenue of $174.2 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $168.9 million.
For the current quarter ending in June, Bandwidth said it expects revenue in the range of $178 million to $180 million.
The company expects full-year revenue in the range of $745 million to $760 million.
Bandwidth shares have declined 28% since the beginning of the year. The stock has dropped 40% 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 BAND at https://www.zacks.com/ap/BAND