Advent Software Earnings: Everything You Must Know Now
Advent Software, Inc. (NASDAQ:ADVS) 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.
Advent Software, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 54.17% to $0.37 in the quarter versus EPS of $0.24 in the year-earlier quarter.
Revenue: Rose 7.13% to $96.12 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Advent Software, Inc. reported adjusted EPS income of $0.37 per share. By that measure, the company beat the mean analyst estimate of $0.31. It beat the average revenue estimate of $94.46 million.
Quoting Management: “I am pleased to report Advent delivered a strong second quarter with record revenue and non-GAAP profitability, and strong renewals,” said Pete Hess, Chief Executive Officer at Advent. “We continue to win new business, while also investing in our solutions, and we’re doing it all while ensuring that we deliver the operational efficiency gains we’re committed to achieving. It is exciting to see these results as we continue to execute on our strategy and deliver results and value to our shareholders and clients.”
Key Stats (on next page)…
Revenue increased 3.92% from $92.49 million in the previous quarter. EPS increased 15.63% from $0.32 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.30 to a profit $0.28. For the current year, the average estimate has moved down from a profit of $1.23 to a profit of $1.19 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)