RALEIGH, N.C. (AP) — RALEIGH, N.C. (AP) — Bandwidth Inc. (BAND) on Thursday reported fourth-quarter net income of $33.4 million, after reporting a loss in the same period a year earlier.
The Raleigh, North Carolina-based company said it had profit of 16 cents per share. Earnings, adjusted for one-time gains and costs, came to 19 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 4 cents per share.
The enterprise software developer posted revenue of $157 million in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $146.6 million.
For the year, the company reported net income of $19.6 million, or 48 cents per share, swinging to a profit in the period. Revenue was reported as $573.2 million.
For the current quarter ending in March, Bandwidth said it expects revenue in the range of $132 million to $134 million.
The company expects full-year revenue in the range of $576 million to $584 million.
Bandwidth shares have risen roughly 4% since the beginning of the year. The stock has decreased 53% 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
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