AUSTIN, Texas (AP) — AUSTIN, Texas (AP) — Q2 Holdings Inc. (QTWO) on Wednesday reported a loss of $13.8 million in its first quarter.

The Austin, Texas-based company said it had a loss of 23 cents per share. Earnings, adjusted for stock option expense and amortization costs, were 31 cents per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share.

The provider of online banking software posted revenue of $165.5 million in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $163.6 million.


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