BERWYN, Pa. (AP) — BERWYN, Pa. (AP) — Envestnet Inc. (ENV) on Thursday reported a loss of $183.2 million in its fourth quarter.
The Berwyn, Pennsylvania-based company said it had a loss of $3.35 per share. Earnings, adjusted for one-time gains and costs, were 65 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 53 cents per share.
The financial services firm posted revenue of $317.6 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $312.2 million.
For the year, the company reported a loss of $238.7 million, or $4.38 per share. Revenue was reported as $1.25 billion.
For the current quarter ending in March, Envestnet expects its per-share earnings to range from 52 cents to 57 cents.
The company said it expects revenue in the range of $320 million to $326 million for the fiscal first quarter.
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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 ENV at https://www.zacks.com/ap/ENV