SANTA BARBARA, Calif. (AP) — SANTA BARBARA, Calif. (AP) — AppFolio Inc. (APPF) on Thursday reported fourth-quarter net income of $30.3 million, after reporting a loss in the same period a year earlier.
The Santa Barbara, California-based company said it had net income of 83 cents per share. Earnings, adjusted for one-time gains and costs, were 88 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 71 cents per share.
The property management software maker posted revenue of $171.8 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $162.8 million.
For the year, the company reported net income of $2.7 million, or 7 cents per share, swinging to a profit in the period. Revenue was reported as $620.4 million.
AppFolio expects full-year revenue in the range of $755 million to $765 million.
AppFolio shares have risen nearly 1% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $174.38, a climb of 54% 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 APPF at https://www.zacks.com/ap/APPF