NEWTON, Mass. (AP) — NEWTON, Mass. (AP) — Bright Horizons Family Solutions Inc. (BFAM) on Monday reported first-quarter profit of $38 million.
On a per-share basis, the Newton, Massachusetts-based company said it had profit of 66 cents. Earnings, adjusted for one-time gains and costs, were 77 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 63 cents per share.
The child care and early education services provider posted revenue of $665.5 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $664 million.
Bright Horizons expects full-year earnings in the range of $3.95 to $4.15 per share, with revenue in the range of $2.87 billion to $2.92 billion.
Bright Horizons shares have risen 14% since the beginning of the year. In the final minutes of trading on Monday, shares hit $126.82, an increase of 14% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BFAM at https://www.zacks.com/ap/BFAM
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