AUSTIN, Texas (AP) — AUSTIN, Texas (AP) — Q2 Holdings Inc. (QTWO) on Tuesday reported a loss of $32.4 million in its fourth quarter.
The Austin, Texas-based company said it had a loss of 56 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, came to 6 cents per share.
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 13 cents per share.
The provider of online banking software posted revenue of $146.5 million in the period, which also missed Street forecasts. Seven analysts surveyed by Zacks expected $149.2 million.
For the year, the company reported a loss of $110 million, or $1.90 per share. Revenue was reported as $565.7 million.
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