CAMBRIDGE, Mass. (AP) — CAMBRIDGE, Mass. (AP) — Pegasystems Inc. (PEGA) on Wednesday reported a loss of $12.1 million in its first quarter.

The Cambridge, Massachusetts-based company said it had a loss of 14 cents per share. Earnings, adjusted for one-time gains and costs, were 48 cents per share.

The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 49 cents per share.

The business software company posted revenue of $330.1 million in the period, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $339.7 million.

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