CHICAGO (AP) — CHICAGO (AP) — Sprout Social Inc. (SPT) on Wednesday reported a loss of $12 million in its second quarter.
The Chicago-based company said it had a loss of 21 cents per share. Earnings, adjusted for stock option expense and amortization costs, were 18 cents per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 15 cents per share.
The developer of cloud software posted revenue of $111.8 million in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $111 million.
For the current quarter ending in September, 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 $114.4 million to $115.2 million for the fiscal third quarter.
Sprout Social expects full-year earnings in the range of 71 cents to 75 cents per share, with revenue ranging from $452.9 million to $455.9 million.
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