ATLANTA (AP) _ FleetCor Technologies Inc. (FLT) on Wednesday reported second-quarter earnings of $196.2 million.
The Atlanta-based company said it had profit of $2.30 per share. Earnings, adjusted for amortization costs and stock option expense, came to $3.15 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.92 per share.
The provider of fuel card and payment products for businesses posted revenue of $667.4 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $635.3 million.
For the current quarter ending in October, FleetCor Technologies expects its per-share earnings to range from 35 cents to $3.55.
The company expects full-year earnings in the range of $12.80 to $13 per share, with revenue ranging from $2.74 billion to $2.79 billion.
FleetCor Technologies shares have fallen 9% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $247.81, a fall of 4% 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 FLT at https://www.zacks.com/ap/FLT
Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News