BOISE, Idaho (AP) — BOISE, Idaho (AP) — Clearwater Analytics Holdings Inc. (CWAN) on Wednesday reported fourth-quarter net income of $419.5 million.
On a per-share basis, the Boise, Idaho-based company said it had net income of $1.63. Earnings, adjusted for one-time gains and costs, were 13 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 11 cents per share.
The automated investment accounting software developer posted revenue of $126.5 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $120.4 million.
For the year, the company reported profit of $424.4 million, or $1.68 per share. Revenue was reported as $451.8 million.
For the current quarter ending in March, Clearwater Analytics said it expects revenue in the range of $125 million.
The company expects full-year revenue in the range of $535.5 million to $542 million.
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