NEWTON, Mass. (AP) — NEWTON, Mass. (AP) — Bright Horizons Family Solutions Inc. (BFAM) on Thursday reported third-quarter profit of $78.6 million.
The Newton, Massachusetts-based company said it had profit of $1.37 per share. Earnings, adjusted for one-time gains and costs, were $1.57 per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.32 per share.
The child care and early education services provider posted revenue of $802.8 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $779.8 million.
Bright Horizons expects full-year earnings in the range of $4.48 to $4.53 per share, with revenue expected to be $2.93 billion.
Bright Horizons shares have dropped 17% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $92.28, a decrease of 31% 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 BFAM at https://www.zacks.com/ap/BFAM
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