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TechTarget: Q1 Earnings Snapshot

NEWTON, Mass. (AP) _ TechTarget Inc. (TTGT) on Wednesday reported first-quarter profit of $1.8 million. On a per-share basis, the Newton, Massachusetts-based company said it had profit of 6 cents...

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NEWTON, Mass. (AP) _ TechTarget Inc. (TTGT) on Wednesday reported first-quarter profit of $1.8 million.

On a per-share basis, the Newton, Massachusetts-based company said it had profit of 6 cents. Earnings, adjusted for one-time gains and costs, came to 44 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.

The operator of websites for information technology vendors posted revenue of $53 million in the period. Its adjusted revenue was $58 million, also beating Street forecasts. Six analysts surveyed by Zacks expected $55.3 million.

For the current quarter ending in July, TechTarget said it expects revenue in the range of $61 million to $63 million.

The company expects full-year revenue in the range of $245 million to $250 million.

TechTarget shares have risen 17% since the beginning of the year. The stock has nearly tripled 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 TTGT at https://www.zacks.com/ap/TTGT

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