Blackbaud: Q1 Earnings Snapshot

CHARLESTON, S.C. (AP) — CHARLESTON, S.C. (AP) — Blackbaud Inc. (BLKB) on Tuesday reported first-quarter net income of $5.2 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Charleston, South Carolina-based company said it had net income of 10 cents. Earnings, adjusted for one-time gains and costs, came to 93 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 85 cents per share.

The software and services provider in the nonprofit sector posted revenue of $279.3 million in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $282.2 million.

Blackbaud expects full-year earnings in the range of $4.12 to $4.38 per share, with revenue in the range of $1.16 billion to $1.19 billion.

Blackbaud shares have decreased 10% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $77.92, a climb of 13% in the last 12 months.


This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on BLKB at