Q2 Holdings: 3Q Earnings Snapshot
AUSTIN, Texas (AP) _ Q2 Holdings Inc. (QTWO) on Wednesday reported a loss of $18.6 million in its third quarter.
The Austin, Texas-based company said it had a loss of 39 cents per share. Earnings, adjusted for stock option expense and amortization costs, came to 5 cents per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share.
The provider of online banking software posted revenue of $79.7 million in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $79.2 million.
Q2 Holdings shares have climbed 38% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $68.29, a climb of 31% in the last 12 months.