CHICAGO (AP) — CHICAGO (AP) — Sprout Social Inc. (SPT) on Wednesday reported a loss of $9.4 million in its third quarter.
The Chicago-based company said it had a loss of 16 cents per share. Earnings, adjusted for stock option expense and amortization costs, were 23 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 16 cents per share.
The developer of cloud software posted revenue of $115.6 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $114.8 million.
For the current quarter ending in December, Sprout Social expects its per-share earnings to range from 15 cents to 17 cents.
The company said it expects revenue in the range of $118.2 million to $119 million for the fiscal fourth quarter.
Sprout Social expects full-year earnings in the range of 77 cents to 79 cents per share, with revenue ranging from $454.9 million to $455.7 million.
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