By Connor Hart
Shares of AppFolio fell after the company reported a drop in first-quarter earnings, as well as sales that missed Wall Street's expectations.
The stock declined 8.4%, to $215, in after-hours trading. Through Thursday's close, shares are up 8.3% in the past year.
The company, which offers software-as-a-service applications to the real-estate industry, posted a profit of $31.4 million, or 86 cents a share, compared with $38.7 million, or $1.05 a share, a year earlier.
Adjusted per-share earnings of $1.21 came in slightly below the $1.22 that analysts surveyed by FactSet expected.
Revenue increased 16% to $217.7 million but missed the $220.4 million that analysts modeled.
AppFolio backed its 2025 outlook, calling for revenue of $920 million to $940 million. Analysts expected full-year sales of $937.6 million.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
April 24, 2025 17:55 ET (21:55 GMT)
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