SANTA BARBARA, Calif. (AP) — SANTA BARBARA, Calif. (AP) — AppFolio Inc. (APPF) on Thursday reported second-quarter net income of $36 million.
On a per-share basis, the Santa Barbara, California-based company said it had net income of 99 cents. Earnings, adjusted for stock option expense and amortization costs, were $1.38 per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.28 per share.
The property management software maker posted revenue of $235.6 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $231.2 million.
AppFolio expects full-year revenue in the range of $935 million to $945 million.
AppFolio shares have climbed slightly more than 8% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $267.38, a climb of 21% 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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