SolarWinds: 3Q Earnings Snapshot
AUSTIN, Texas (AP) _ SolarWinds Corp. (SWI) on Wednesday reported third-quarter net income of $4.4 million, after reporting a loss in the same period a year earlier.
The Austin, Texas-based company said it had net income of 1 cent per share. Earnings, adjusted for one-time gains and costs, came to 21 cents per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share.
The provider of information-technology management software posted revenue of $240.5 million in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $243.8 million.
For the current quarter ending in December, SolarWinds expects its per-share earnings to range from 22 cents to 23 cents.
The company expects full-year earnings in the range of 82 cents to 83 cents per share.
SolarWinds shares have climbed 32% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $18.30, a rise of 27% in the last 12 months.