Thu, Aug 4, 2022 5:33 PM
STATS Perform dba Automated Insights
BERWYN, Pa. (AP) _ Envestnet Inc. (ENV) on Thursday reported a loss of $23.3 million in its second quarter.
The Berwyn, Pennsylvania-based company said it had a loss of 42 cents per share. Earnings, adjusted for one-time gains and costs, were 49 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 46 cents per share.
The financial services firm posted revenue of $318.9 million in the period, which missed Street forecasts. Four analysts surveyed by Zacks expected $325.1 million.
For the current quarter ending in October, Envestnet expects its per-share earnings to range from 40 cents to 42 cents.
The company said it expects revenue in the range of $301.5 million to $303.5 million for the fiscal third quarter.
Envestnet expects full-year earnings in the range of $1.84 to $1.89 per share, with revenue ranging from $1.25 billion to $1.26 billion.