CHICAGO (AP) 鈥� CHICAGO (AP) 鈥� Sprout Social Inc. (SPT) on Thursday reported a loss of $3.1 million in its second quarter.
On a per-share basis, the Chicago-based company said it had a loss of 5 cents. Earnings, adjusted for one-time gains and costs, came to 26 cents per share.
The results exceeded 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 $123.8 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $122.2 million.
For the current quarter ending in September, Sprout Social expects its per-share earnings to range from 29 cents to 30 cents.
The company said it expects revenue in the range of $123.3 million to $124.1 million for the fiscal third quarter.
Sprout Social expects full-year earnings in the range of $1.11 to $1.15 per share, with revenue ranging from $493 million to $495.6 million.
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