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Envestnet updates 2018 guidance

Envestnet Inc. raised guidance for 2018.

For 2018, the company expects adjusted EBITDA to be in the range of $153.0 million to $156.0 million, compared to the earlier forecast of $151.0 million to $155.0 million. The company raised its estimate for adjusted EPS to a range of $1.85 to $1.89 from the earlier range of $1.78 to $1.83.

For the third quarter, EPS is projected to be 50 cents.

The company posted adjusted net income of $19.3 million, or 41 cents per share, for the second quarter, up from $13.1 million, or 29 cents per share, for the prior-year period.