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Cornerstone OnDemand reports 3Q loss

SANTA MONICA, Calif. (AP) _ Cornerstone OnDemand Inc. (CSOD) on Wednesday reported a loss of $14.9 million in its third quarter.

On a per-share basis, the Santa Monica, California-based company said it had a loss of 26 cents. Earnings, adjusted for stock option expense and amortization costs, came to 13 cents per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 10 cents per share.

The developer of human-resources software posted revenue of $121.8 million in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $118.8 million.

For the current quarter ending in December, Cornerstone OnDemand said it expects revenue in the range of $129 million to $137 million.

The company expects full-year revenue in the range of $479 million to $487 million.

Cornerstone OnDemand shares have fallen 11 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $37.60, a rise of roughly 9 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CSOD at https://www.zacks.com/ap/CSOD