CHICAGO (AP) — CHICAGO (AP) — Sprout Social Inc. (SPT) on Thursday reported a loss of $17.1 million in its third quarter.
On a per-share basis, the Chicago-based company said it had a loss of 30 cents. Earnings, adjusted for stock option expense and amortization costs, were 13 cents per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share.
The developer of cloud software posted revenue of $102.6 million in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $102 million.
For the current quarter ending in December, Sprout Social expects its per-share earnings to range from 15 cents to 16 cents.
The company said it expects revenue in the range of $106.3 million to $107.1 million for the fiscal fourth quarter.
Sprout Social expects full-year earnings in the range of 46 cents to 47 cents per share, with revenue ranging from $405.1 million to $405.9 million.
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