Upland Software: 4Q Earnings Snapshot

AUSTIN, Texas (AP) _ Upland Software Inc. (UPLD) on Wednesday reported a fourth quarter loss of $ 5.7 million.

Per share, the Austin, Texas-based company said it suffered a loss of 19 cents. Profit, adjusted for gains and one-time costs, was 61 cents per share.

The results exceeded Wall Street’s expectations. The average estimate of five analysts polled by Zacks Investment Research was for earnings of 46 cents per share.

The cloud-based enterprise work management software maker reported $ 78.2 million in revenue during the period, which also beat Street’s forecast. Five analysts polled by Zacks forecast $ 72.2 million.

For the year, the company said its loss widened to $ 51.2 million, or $ 1.92 per share. The income was reported at $ 291.8 million.

For the current quarter ending in April, Upland Software said it expects revenue of between $ 70.6 million and $ 74.6 million.

The company expects annual revenue of between $ 288.6 million and $ 300.6 million.

Shares of Upland Software have risen just over 7% since the start of the year. In the final minutes of trading on Wednesday, shares hit $ 49.29, a 19% increase over the past 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data by Zacks Investment Research. Access a Zacks inventory report on UPLD at https://www.zacks.com/ap/UPLD

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