MCLEAN, Va. (AP) — MCLEAN, Va. (AP) — Appian Corp. (APPN) on Thursday reported a loss of $11.8 million in its second quarter.
The McLean, Virginia-based company said it had a loss of 16 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, were 13 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was breakeven on a per-share basis.
The business process management software provider posted revenue of $203.3 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $192.9 million.
For the current quarter ending in September, Appian expects its per-share earnings to range from 31 cents to 35 cents.
The company said it expects revenue in the range of $214 million to $218 million for the fiscal third quarter.
Appian expects full-year earnings in the range of $1.04 to $1.12 per share, with revenue ranging from $845 million to $853 million.
Appian shares have decreased 15% since the beginning of the year. The stock has climbed nearly 9% in the last 12 months.
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