CHICAGO, IL (AP), CHICAGO, IL (AP), Sprout Social Inc. reported a $10.3 million loss in the first quarter.
Chicago-based company reported a loss per share of 19 cents. The adjusted earnings per share, which include stock option expenses, were 6 cents.
The results exceeded Wall Street's expectations. Zacks Investment Research surveyed five analysts and found that the average estimate was a loss per share of 1 cent.
The cloud software developer exceeded Street expectations by posting revenue of $75.2 millions in the quarter. Zacks surveyed five analysts who expected revenue of $75 million.
Sprout Social anticipates a loss of 2 cents per share for the current quarter, ending in June.
The company expects revenues in the range $78.6 to $78.7 for the second fiscal quarter.
Sprout Social is expecting earnings of between 7 and 8 cents per share for the full year, with revenues ranging between $332 million and $333 million.
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