BERWYN, Pa. (AP) — BERWYN, Pa. (AP) — Envestnet Inc. (ENV) on Thursday reported a loss of $36.5 million in its fourth quarter.
The Berwyn, Pennsylvania-based company said it had a loss of 85 cents per share. Earnings, adjusted for one-time gains and costs, came to 45 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 43 cents per share.
The financial services firm posted revenue of $292.9 million in the period, which fell short of Street forecasts. Five analysts surveyed by Zacks expected $296.3 million.
For the year, the company reported a loss of $80.9 million, or $1.59 per share, swinging to a loss in the period. Revenue was reported as $1.24 billion.
For the current quarter ending in March, Envestnet said it expects revenue in the range of $299 million to $302 million.
The company expects full-year earnings in the range of $1.95 to $2.05 per share, with revenue ranging from $1.24 billion to $1.26 billion.
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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 ENV at https://www.zacks.com/ap/ENV
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