Blackbaud Slashes Annual Outlook Below View, Stock Down Over 12%

(RTTNews) - Blackbaud, Inc. (BLKB), a cloud computing service provider, on Wednesday revised down its annual outlook, below analysts' estimates.

For the full year, the company now projects adjusted income per share of $3.98 to $4.16, compared with prior expectation of $4.12 to $4.38 per share.

Revenue is now anticipated to be $1.150 billion to $1.160 billion, lower than the previous expectation of $1.164 billion to $1.194 billion.

On average, six-analysts polled by Thomson Reuters expect the firm to post income per share of $4.19, on revenue of $1.17 billion, for the year. Analysts' estimates typically exclude special items.

BLKB was trading down by 12.17 percent at $76.83 on the Nasdaq.