TEL AVIV-YAFO, Israel (AP) — TEL AVIV-YAFO, Israel (AP) — Monday.com Ltd. (MNDY) on Wednesday reported first-quarter earnings of $7.1 million.

The Tel aviv-Yafo, Israel-based company said it had net income of 14 cents per share. Earnings, adjusted for stock option expense, were 61 cents per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share.

The project management software developer posted revenue of $216.9 million in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $210.3 million.

For the current quarter ending in June, Monday.com said it expects revenue in the range of $226 million to $230 million.

The company expects full-year revenue in the range of $942 million to $948 million.

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