Blackbaud Earnings: Here’s Why Investors are Buying Shares Now

Blackbaud Inc. (NASDAQ:BLKB) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 5.02%.

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Blackbaud Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 52.94% to $0.26 in the quarter versus EPS of $0.17 in the year-earlier quarter.

Revenue: Rose 22.06% to $115.6 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Blackbaud Inc. reported adjusted EPS income of $0.26 per share. By that measure, the company beat the mean analyst estimate of $0.2. It beat the average revenue estimate of $114 million.

Quoting Management: “Our first quarter results were a solid start to 2013, as our revenue and profitability were above the high end of our guidance ranges,” stated Marc Chardon, Chief Executive Officer of Blackbaud. “There is growing awareness among non-profit organizations that they need to invest in new or upgraded fundraising software and related solutions in order to achieve their missions. We are still in the early stages of benefitting from our integrated product strategy following the acquisition of Convio, and we are encouraged by customer feedback that continues to be very positive on the direction of our company and solutions.”

Key Stats (on next page)…

Revenue decreased 3.71% from $120.05 million in the previous quarter. EPS decreased 3.7% from $0.27 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.28 to a profit $0.27. For the current year, the average estimate has moved up from a profit of $1.16 to a profit of $1.21 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at]