CHARLOTTE, N.C. (AP) — CHARLOTTE, N.C. (AP) — Paymentus Holdings Inc. (PAY) on Monday reported first-quarter profit of $20.9 million.

The Charlotte, North Carolina-based company said it had profit of 16 cents per share. Earnings, adjusted for stock option expense and amortization costs, came to 21 cents per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 17 cents per share.

The electronic bill payment services posted revenue of $358.4 million in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $335.4 million.

For the current quarter ending in June, Paymentus said it expects revenue in the range of $340 million to $350 million.

The company expects full-year revenue in the range of $1.43 billion to $1.44 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PAY at https://www.zacks.com/ap/PAY