CARPINTERIA, Calif. (AP) — CARPINTERIA, Calif. (AP) — Procore Technologies Inc. (PCOR) on Wednesday reported a loss of $11 million in its first quarter.
On a per-share basis, the Carpinteria, California-based company said it had a loss of 8 cents. Earnings, adjusted for stock option expense and amortization costs, were 30 cents per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 16 cents per share.
The construction management software posted revenue of $269.4 million in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $263.1 million.
For the current quarter ending in June, Procore Technologies said it expects revenue in the range of $274 million to $276 million.
The company expects full-year revenue of $1.14 billion.
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