NEWTON, Mass. (AP) — NEWTON, Mass. (AP) — Bright Horizons Family Solutions Inc. (BFAM) on Thursday reported first-quarter net income of $17 million.
The Newton, Massachusetts-based company said it had net income of 29 cents per share. Earnings, adjusted for one-time gains and costs, were 51 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 45 cents per share.
The child care and early education services provider posted revenue of $622.7 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $614.6 million.
Bright Horizons expects full-year earnings in the range of $3 to $3.20 per share, with revenue in the range of $2.6 billion to $2.7 billion.
Bright Horizons shares have climbed 11% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $104.27, a climb of 41% 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 BFAM at https://www.zacks.com/ap/BFAM
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