SANTA BARBARA, Calif. (AP) — SANTA BARBARA, Calif. (AP) — AppFolio Inc. (APPF) on Thursday reported first-quarter net income of $38.7 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Santa Barbara, California-based company said it had profit of $1.05.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 84 cents per share.
The property management software maker posted revenue of $187.4 million in the period.
AppFolio expects full-year revenue in the range of $766 million to $774 million.
AppFolio shares have climbed 25% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $216.65, an increase of 74% 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 APPF at https://www.zacks.com/ap/APPF
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