Envestnet: 1Q Earnings Snapshot

CHICAGO (AP) _ Envestnet Inc. (ENV) on Thursday reported a loss of $7.3 million in its first quarter.

The Chicago-based company said it had a loss of 14 cents per share. Earnings, adjusted for one-time gains and costs, came to 57 cents per share.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 45 cents per share.

The financial services firm posted revenue of $246.5 million in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $241.6 million.

For the current quarter ending in July, Envestnet expects its per-share earnings to be 47 cents.

The company said it expects revenue in the range of $225.9 million to $227.4 million for the fiscal second quarter.

Envestnet expects full-year earnings in the range of $1.92 to $2.02 per share, with revenue ranging from $939.5 million to $945.5 million.

Envestnet shares have fallen 10% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $62.64, a decrease of 12% in the last 12 months.

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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