AUSTIN, Texas (AP) — SolarWinds Corp. (SWI) on Thursday reported fourth-quarter net income of $132.7 million.
The Austin, Texas-based company said it had net income of 42 cents per share. Earnings, adjusted for one-time gains and costs, were 26 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.
The provider of information-technology management software posted revenue of $265.3 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $261.4 million.
For the year, the company reported profit of $157.5 million, or 50 cents per share. Revenue was reported as $1.02 billion.
For the current quarter ending in April, SolarWinds expects its per-share earnings to range from 19 cents to 20 cents.
SolarWinds shares have increased 5% since the beginning of the year. The stock has decreased 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 SWI at https://www.zacks.com/ap/SWI
