Envestnet, Inc (NYSE:ENV) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Envestnet, Inc Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 71.43% to $0.12 in the quarter versus EPS of $0.07 in the year-earlier quarter.
Revenue: Rose 43.38% to $46.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Envestnet, Inc reported adjusted EPS income of $0.12 per share. By that measure, the company beat the mean analyst estimate of $0.11. It beat the average revenue estimate of $46.1 million.
Quoting Management: “Envestnet had a solid quarter as we continued to build our business, adding advisors, accounts and assets across our channels and product offerings,” said Jud Bergman, Chairman and CEO of Envestnet. “We remain on track to deliver strong year-over-year revenue growth and robust growth in adjusted EBITDA compared to last year.”
Key Stats (on next page)…