Why Blackbaud Stock Is Falling Today

Shares of Blackbaud (NASDAQ: BLKB) are falling today, down 12.6% as of 11 a.m. EDT, after the release of the cloud software company's third-quarter earnings report.

Yesterday after market close, Blackbaud reported non-GAAP diluted earnings per share of $0.73, which actually beat Wall Street's consensus estimate of $0.70 per share. But investors were disappointed that revenue fell 2.8% year over year to $215 million, missing analysts' expectations for $221 million in sales.

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Source Fool.com