Blackboard (BBBB) Keeps On Rolling

Blackboard (BBBB) posted solid Q1 numbers after the marker closed today. The online educational software firm earned 42 cents a share, beating analyst expectations of 40 cents a share. The firm had a net profit of $5 million dollars.

Sales revenue rose 17 percent to $101.1 million. Analysts were expecting revenue of $100.7 million dollars. The good news doesn't stop there. Blackboard increased guidance for the full year 2010. The company now projects earnings of $1.70 a share to $1.90 a share. 2010 revenue is now expected to come in at $445.4 million vs. the $433.4 million originally expected.

Growth is still going strong at Blackboard. Blackboard expects to see earnings rise 23% annually over the next five years.