Blackbaud Earnings: Here’s Why Investors are Buying Shares Now
Blackbaud Inc. (NASDAQ:BLKB) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 6.53%.
Blackbaud Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 37.5% to $0.33 in the quarter versus EPS of $0.24 in the year-earlier quarter.
Revenue: Rose 13.89% to $125.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Blackbaud Inc. reported adjusted EPS income of $0.33 per share. By that measure, the company beat the mean analyst estimate of $0.28. It beat the average revenue estimate of $122.03 million.
Quoting Management: “Blackbaud generated strong second quarter results, with both revenue and profitability above the high-end of our guidance range,” stated Marc Chardon, Chief Executive Officer of Blackbaud. “We saw strong performance across each of our business units and we are seeing positive signs that our integrated product strategy is resonating with customers and having a positive impact on our pipeline of opportunities.”
Key Stats (on next page)…