Appian: 2Q Earnings Snapshot
RESTON, Va. (AP) _ Appian Corp. (APPN) on Thursday reported a loss of $11 million in its second quarter.
The Reston, Virginia-based company said it had a loss of 18 cents per share. Losses, adjusted for stock option expense, were 14 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 17 cents per share.
The business process management software provider posted revenue of $59.9 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $50.3 million.
For the current quarter ending in October, Appian expects its results to range from a loss of 19 cents per share to a loss of 17 cents per share.
The company said it expects revenue in the range of $49.6 million to $49.8 million for the fiscal third quarter.
Appian expects full-year results to range from a loss of 63 cents per share to a loss of 60 cents per share, with revenue ranging from $213.8 million to $215.3 million.
Appian shares have risen 5 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $33.07, an increase of 69 percent in the last 12 months.