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CHARLESTON, S.C. (AP) — CHARLESTON, S.C. (AP) — Blackbaud Inc. (BLKB) on Wednesday reported first-quarter net income of $4.9 million.
On a per-share basis, the Charleston, South Carolina-based company said it had net income of 10 cents. Earnings, adjusted for one-time gains and costs, were 96 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 90 cents per share.
The software and services provider in the nonprofit sector posted revenue of $270.7 million in the period.
Blackbaud expects full-year earnings in the range of $4.16 to $4.35 per share, with revenue in the range of $1.12 billion to $1.13 billion.
Blackbaud shares have dropped 13% since the beginning of the year. The stock has declined 19% 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