SANTA BARBARA, Calif. (AP) — SANTA BARBARA, Calif. (AP) — AppFolio Inc. (APPF) on Thursday reported fourth-quarter profit of $39.9 million.
The Santa Barbara, California-based company said it had net income of $1.10 per share. Earnings, adjusted for stock option expense and amortization costs, were $1.39 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.22 per share.
The property management software maker posted revenue of $248.2 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $246.1 million.
For the year, the company reported profit of $140.9 million, or $3.88 per share. Revenue was reported as $950.8 million.
AppFolio expects full-year revenue in the range of $1.1 billion to $1.12 billion.
AppFolio shares have decreased 11% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $207.10, a decrease of 17% 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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