SANTA BARBARA, Calif. (AP) — SANTA BARBARA, Calif. (AP) — AppFolio Inc. (APPF) on Thursday reported second-quarter profit of $41.5 million.
On a per-share basis, the Santa Barbara, California-based company said it had profit of $1.17. Earnings, adjusted for stock option expense and amortization costs, were $1.71 per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.67 per share.
The property management software maker posted revenue of $281.1 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $277 million.
AppFolio expects full-year revenue in the range of $1.12 billion to $1.13 billion.
AppFolio shares have decreased 30% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $162.16, a decline of 38% 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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