Blackbaud's Q3 Adjusted Earnings Fall, Revenue Rises

MT Newswires Live10-30

Blackbaud (BLKB) reported Q3 non-GAAP earnings Wednesday of $0.99 per diluted share, down from $1.12 a year earlier.

Analysts polled by Capital IQ expected $1.06.

Revenue for the quarter ended Sept. 30 was $286.7 million, up from $277.6 million a year earlier.

Analysts surveyed by Capital IQ expected $293.6 million.

The company said it now expects 2024 non-GAAP EPS of $3.98 to $4.16, down from its prior guidance of $4.12 to $4.38. Analysts polled by Capital IQ expect $4.19.

Revenue for the year is now expected at $1.15 billion to $1.16 billion, the company said. That compares with the company's earlier expectation of between $1.16 billion and $1.19 billion. Analysts surveyed by Capital IQ expect $1.17 billion.

Shares of Blackbaud were down 3.1% in recent Wednesday premarket activity.

Price: 84.78, Change: -2.70, Percent Change: -3.09

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