AUSTIN, Texas (AP) _ Upland Software Inc. (UPLD) on Thursday reported a loss of $7.8 million in its first quarter.
On a per-share basis, the Austin, Texas-based company said it had a loss of 37 cents. Earnings, adjusted for one-time gains and costs, came to 53 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share.
The maker of cloud-based enterprise work-management software posted revenue of $48.5 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $48.3 million.
For the current quarter ending in July, Upland Software said it expects revenue in the range of $49.9 million to $51.9 million.
The company expects full-year revenue in the range of $202.4 million to $206.4 million.
Upland Software shares have climbed 70% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $46.08, a rise of 67% in the last 12 months.
_____
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