Envestnet: Q3 Earnings Snapshot
BERWYN, Pa. (AP) — BERWYN, Pa. (AP) — Envestnet Inc. (ENV) on Wednesday reported third-quarter profit of $7.1 million.
On a per-share basis, the Berwyn, Pennsylvania-based company said it had profit of 13 cents. Earnings, adjusted for one-time gains and costs, came to 56 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 54 cents per share.
The financial services firm posted revenue of $316.8 million in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $318.4 million.
For the current quarter ending in December, Envestnet expects its per-share earnings to range from 51 cents to 54 cents.
The company said it expects revenue in the range of $309 million to $314 million for the fiscal fourth quarter.
Envestnet expects full-year earnings in the range of $1.98 to $2.01 per share, with revenue expected to be $1.24 billion.
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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