BlackLine Reports Mixed Q4 Results, Misses Earnings Expectations
WOODLAND HILLS, Calif. - BlackLine, Inc. (BL) announced its fourth-quarter financial results on Tuesday, posting a profit of $56.4 million or 79 cents per share.
Excluding one-time items, earnings reached 47 cents per share, falling short of analysts' expectations of 50 cents per share. However, the company exceeded revenue estimates, generating $169.5 million compared to the forecast of $168 million.
For the full year, BlackLine reported a profit of $161.2 million ($1.45 per share) and revenue of $653.3 million.
Looking ahead to the first quarter of fiscal 2023, BlackLine projects per-share earnings between 36 and 39 cents on revenue of $166 million to $168 million.
Full-year earnings are expected to range from $1.97 to $2.10 per share, with revenue between $699 million and $705 million.
BlackLine shares have gained over 4% year-to-date and closed at $63.40 on Tuesday, representing a 4% increase over the past 12 months.