Why Shares of BlackLine Are Falling Today

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Shares of the software company BlackLine (NASDAQ: BL) fell as much as 15% this morning after the company reported its earnings results for the fourth quarter and full year of 2020.

BlackLine, a software-as-a-service platform that supports and automates key finance and accounting processes, reported a net loss of roughly $17 million, or $0.30 earnings per share (EPS) in the fourth quarter of 2020. In the fourth quarter of 2019, the company lost $9.2 million.

For the full year, the company reported a loss of nearly $47 million, or roughly $0.83 EPS, compared to a $32.5 million loss in 2019.

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