SEATTLE (AP) _ Avalara Inc. (AVLR) on Thursday reported a loss of $27.7 million in its second quarter.

The Seattle-based company said it had a loss of 32 cents per share. Earnings, adjusted for stock option expense and amortization costs, came to 2 cents per share.

The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 10 cents per share.

The provider of cloud-based software services posted revenue of $169.1 million in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $154.1 million.

For the current quarter ending in October, Avalara said it expects revenue in the range of $169 million to $171 million.

The company expects full-year revenue in the range of $672 million to $676 million.

Avalara shares have risen roughly 3% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $169.69, a rise of 27% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AVLR at https://www.zacks.com/ap/AVLR

Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News