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TYSONS, Va. (AP) _ Appian Corp. (APPN) on Thursday reported a loss of $11.7 million in its first quarter.
On a per-share basis, the Tysons, Virginia-based company said it had a loss of 17 cents. Losses, adjusted for stock option expense and non-recurring costs, came to 12 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 21 cents per share.
The business process management software provider posted revenue of $78.9 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $70.5 million.
For the current quarter ending in July, Appian expects its results to range from a loss of 26 cents per share to a loss of 23 cents per share.
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Appian shares have risen 39% since the beginning of the year. The stock has risen 60% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on APPN at https://www.zacks.com/ap/APPN
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