Published on 1 May 2024 on Zacks via Yahoo Finance

Blackbaud (BLKB) Q1 Earnings Beat Estimates, Revenues Up Y/Y

Blackbaud BLKB reported first-quarter 2024 non-GAAP earnings per share (EPS) of 93 cents, which surpassed the Zacks Consensus Estimate by 9.4%. The bottom line increased 29.2% year over year.Total revenues jumped 6.7% year over year to $279.3 million, driven by growth in recurring revenues. Successful execution of its five-point operating plan has been instrumental in driving revenue growth and increasing profitability. Revenues missed the Zacks Consensus Estimate by 1.1%.Total recurring revenues (contributed 97.2% to total revenues) in the reported quarter amounted to $271.5 million, up 7.4% year over year. One-time services and other revenues (2.8% of total revenues) amounted to $7.7 million, down 14.1% year over year.Non-GAAP organic revenues were up 6.9% on a reported basis and 6.6% on a constant-currency basis, year over year. Non-GAAP organic recurring revenues rose 7.4%.

Blackbaud, Inc. Price, Consensus and EPS Surprise

Blackbaud, Inc. price-consensus-eps-surprise-chart | Blackbaud, Inc. Quote