BlackLine Exceeds Expectations in Q4

BlackLine Inc. beat Wall Street estimates on adjusted earnings and revenue in the fourth quarter. The Woodland Hills accounting software developer reported on Thursday adjusted net income of $1.8 million (3 cents a share) on revenue of $50.2 million for the quarter ending Dec. 31. That compares with an adjusted net loss of $3.9 million (-8 cents) in the same period a year earlier. Analysts on average expected earnings of 0 cents on revenue of $47.7 million, according to Thomson Financial Network. Chief Executive Therese Tucker called the quarter a strong finish to the year. “We believe BlackLine is at the forefront of change in our industry and is ideally positioned to remain a leader in the market given our strong vision, unwavering commitment to our customers and innovative solutions that improve the daily lives of finance and accounting professionals around the globe,” Tucker said in a prepared statement. The results were released after the market closed. Shares of BlackLine closed up Thursday $1.14, or more than 3 percent, to $34.65 on the Nasdaq.