Blackboard Inc. (BBBB) posted third quarter GAAP net income of $4.3 million or $0.13 per share, compared to $0.88 million or $0.03 per share in the prior year period. Non-GAAP adjusted net income for the quarter was $13.3 million or $0.40 per share, compared to $10.2 million or $0.32 per share in the year-ago period.
On average, 11 analysts polled by Thomson Reuters expected the company to report earnings of $0.37 per share. Analysts' estimates typically exclude special items.
Total revenue for the quarter was $98.4 million, compared to $83.0 million in the preceding year quarter. The increase in revenue was driven by strong growth in Blackboard's professional services and managed hosting offerings.
Eleven Wall Street analysts expected revenues of $96.63 million for the quarter.
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