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Upland Software: 1Q Earnings Snapshot

May 7, 2020 GMT

AUSTIN, Texas (AP) _ Upland Software Inc. (UPLD) on Thursday reported a loss of $20.1 million in its first quarter.

On a per-share basis, the Austin, Texas-based company said it had a loss of 81 cents. Earnings, adjusted for costs related to mergers and acquisitions and amortization costs, were 72 cents per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 51 cents per share.

The maker of cloud-based enterprise work-management software posted revenue of $68 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $64.3 million.

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For the current quarter ending in July, Upland Software said it expects revenue in the range of $62.5 million to $66.5 million.

The company expects full-year revenue in the range of $257.4 million to $269.4 million.

Upland Software shares have dropped 10% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $32, a fall of 27% in the last 12 months.

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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 UPLD at https://www.zacks.com/ap/UPLD

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