WOODLAND HILLS, Calif. (AP) — WOODLAND HILLS, Calif. (AP) — BlackLine, Inc. (BL) on Tuesday reported second-quarter profit of $8.3 million.
On a per-share basis, the Woodland Hills, California-based company said it had net income of 13 cents. Earnings, adjusted for stock option expense and amortization costs, were 51 cents per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 50 cents per share.
The company posted revenue of $172 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $170.8 million.
For the current quarter ending in September, BlackLine expects its per-share earnings to range from 48 cents to 51 cents.
The company said it expects revenue in the range of $177 million to $179 million for the fiscal third quarter.
BlackLine expects full-year earnings in the range of $2.13 to $2.24 per share, with revenue ranging from $696 million to $705 million.
BlackLine shares have dropped 10% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $54.43, an increase of 24% 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 BL at https://www.zacks.com/ap/BL
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