Sprout Social: Q2 Earnings Snapshot
CHICAGO (AP) — CHICAGO (AP) — Sprout Social Inc. (SPT) on Thursday reported a loss of $13.1 million in its second quarter.
On a per-share basis, the Chicago-based company said it had a loss of 24 cents. Earnings, adjusted for stock option expense and costs related to mergers and acquisitions, came to 7 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 2 cents per share.
The developer of cloud software posted revenue of $79.3 million in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $78.7 million.
For the current quarter ending in September, Sprout Social expects its per-share loss to be 5 cents.
The company said it expects revenue in the range of $84.1 million to $84.2 million for the fiscal third quarter.
Sprout Social expects full-year earnings to be 7 cents per share, with revenue ranging from $328.6 million to $328.7 million.
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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 SPT at https://www.zacks.com/ap/SPT