Verint Systems Stock Soars on Q2 Earnings Beat

Verint Systems (NASDAQ:VRNT) stock was soaring late in the day after the company released its latest quarterly earnings figures, which included an earnings and revenue beat.

Verint Systems

The New York-based company, which offers analytical services for software and hardware, said that for its second quarter of its fiscal 2018, it brought in net income of $22 million, or 33 cents per share. In the year-ago quarter, the company posted a loss.

On an adjusted basis when considering one-time gains and costs, Verint Systems brought in a profit of 76 cents per share. The figure was stronger than what the Wall Street consensus guidance was calling for as the average estimate of four analysts polled by Zacks Investment Research was 63 cents per share.

The company added that for the period, it amassed revenue of $306.3 million, which came in at $308.5 million on an adjusted basis. The figure was also stronger than what Wall Street projected Verint Systems to bring in at $296.8 million, according to three analysts surveyed by Zacks.

The company is calling for its fiscal 2018 earnings to be $3.15 per share, while its revenue is slated to be $1.24 billion.

VRNT stock is up about 11.2% after the bell on Wednesday following the company’s strong quarterly earnings showing, which included an earnings and revenue beat. Shares were down about 2% during regular trading hours on the day.


Article printed from InvestorPlace Media, https://investorplace.com/2018/09/verint-systems-vrnt/.

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