Blackbaud (NASDAQ: BLKB) reported Q2 EPS of $0.41, $0.03 better than the analyst estimate of $0.38. Revenue for the quarter came in at $158.7 million versus the consensus estimate of $155.46 million.

President and CEO, Mike Gianoni, commented, "We are very pleased with our revenue and profitability results for the quarter and year to date. Our subscription revenue is now more than half of company revenues and reflects our strategic transition to the cloud. Our recent announcement of the general availability of our newest cloud-based offering, Raiser's Edge NXT, illustrates our commitment to this strategy."

"We continued to focus on executing the key programs within our five growth strategies. Our organic revenue growth and improved operating margin reflects the results of our investments and actions," concluded Mr. Gianoni.

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