SkillSoft’s Q1 Beats; Shares Up 12%

SkillSoft Plc.’s (SKIL - Snapshot Report) share price has gained more than 12% in afternoon trade on better-than-expected first-quarter results announced Thursday evening.

The software service provider reported earnings of 19 cents per share, topping the consensus estimate by 6 cents.

SkillSoft’s revenue slipped 6% to $76.4 million due to negative impact of foreign exchange rates.

Meanwhile, the company continues to expect full-year adjusted earnings to range between 55 cents and 58 cents per share.

The guidance is in-line with the consensus estimate of 55 cents per share, which has moved up by 6 cents over the past 60 days.

Shares of SkillSoft, a Zacks #3 Rank ("Hold") company, were trading on volume of approximately 981,000, which is higher than average daily volume of about 229,000.