RALEIGH, N.C. (AP) — RALEIGH, N.C. (AP) — Bandwidth Inc. (BAND) on Thursday reported third-quarter net income of $5.2 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Raleigh, North Carolina-based company said it had net income of 13 cents. Earnings, adjusted for one-time gains and costs, came to 50 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.
The enterprise software developer posted revenue of $234 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $232.9 million.
Bandwidth expects full-year earnings in the range of $1.73 to $1.79 per share, with revenue in the range of $905 million to $910 million.
Bandwidth shares have more than tripled since the beginning of the year. The stock has nearly tripled 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 BAND at https://www.zacks.com/ap/BAND
