Here's Why Blackbaud Shares Are Spiking Today

Shares of Blackbaud (NASDAQ: BLKB) were climbing today after the company's second-quarter results topped Wall Street's expectations. Blackbaud's stock rose by as much as 16.5% during the trading day. 

As of 3:24 p.m. EDT, the company's share price was up 14.7%.

Blackbaud's revenue increased 2.8% in the second quarter to $231.9 million and its adjusted earnings per share of $0.85 was up $0.19 from the year-ago quarter. Those figures easily beat analyst's consensus estimate for revenue of $217.7 million and adjusted earnings of $0.50. As a result, investors quickly pushed Blackbaud's share price up today.

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Source Fool.com