Verint Systems Earnings: Here’s Why Investors are Excited Now
Verint Systems Inc. (NASDAQ:VRNT) 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. Shares are up 6.42%.
Verint Systems Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 20.69% to $0.70 in the quarter versus EPS of $0.58 in the year-earlier quarter.
Revenue: Rose 4.88% to $222.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Verint Systems Inc. reported adjusted EPS income of $0.70 per share. By that measure, the company beat the mean analyst estimate of $0.52. It beat the average revenue estimate of $216.37 million.
Quoting Management: “In Q2, we delivered $223 million of non-GAAP revenue, and $0.70 of non-GAAP fully diluted earnings per share. We are pleased with our strong Q2 results which reflect our focus on innovation, expanding portfolio of analytical solutions and strong competitive position in the enterprise and security intelligence markets,” said Dan Bodner, CEO and President.
Key Stats (on next page)…
Revenue increased 8.79% from $204.79 million in the previous quarter. EPS increased 59.09% from $0.44 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.76 to a profit $0.78. For the current year, the average estimate is a profit of $2.74, which is the same with that ninety days ago.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)