AUSTIN, Texas (AP) _ Q2 Holdings Inc. (QTWO) on Monday reported a loss of $23.6 million in its first quarter.

The Austin, Texas-based company said it had a loss of 41 cents per share. Earnings, adjusted for stock option expense and amortization costs, came to 3 cents per share.

The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 5 cents per share.

The provider of online banking software posted revenue of $134.1 million in the period, which beat Street forecasts. Eight analysts surveyed by Zacks expected $132.4 million.

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

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