SANTA BARBARA, Calif. (AP) — SANTA BARBARA, Calif. (AP) — AppFolio Inc. (APPF) on Thursday reported third-quarter earnings of $33.6 million.
On a per-share basis, the Santa Barbara, California-based company said it had net income of 93 cents. Earnings, adjusted for stock option expense and amortization costs, came to $1.31 per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.45 per share.
The property management software maker posted revenue of $249.4 million in the period, surpassing Street forecasts. Four analysts surveyed by Zacks expected $245.6 million.
AppFolio expects full-year revenue in the range of $945 million to $950 million.
AppFolio shares have fallen 4.5% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $235.71, a rise of slightly more than 8% 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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