In a story July 28 about CEB Inc.'s quarterly earnings — generated by Automated Insights using data from Zacks Investment Research — The Associated Press erroneously used the company's prior name. The company legally changed its name in May and is now CEB Inc.
A corrected version of the story is below:
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CEB Inc. posts 2Q profit
CEB Inc. beats 2Q net income and revenue expectations
ARLINGTON, Va. (AP) — CEB Inc. (CEB) on Tuesday reported second-quarter net income of $23.2 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Arlington, Virginia-based company said it had profit of 69 cents. Earnings, adjusted for amortization costs and non-recurring costs, were $1.19 per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 75 cents per share.
The member-based advisory company posted revenue of $232 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $230.9 million.
CEB expects full-year earnings in the range of $3.65 to $3.90 per share, with revenue in the range of $933 million to $948 million.
CEB shares have increased 20 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $86.70, a climb of 36 percent in the last 12 months.
Elements of this story story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CEB at http://www.zacks.com/ap/CEB
Keywords: Corporate Executive Board, Earnings Report