Verint Systems stock rises after earnings beat, raised guidance
Verint Systems Inc. shares rose nearly 8% in the extended session Wednesday after it reported better-than-expected earnings and issued guidance that topped consensus estimates. The company reported fiscal fourth-quarter net income attributable to Verint of $27.3 million, or 41 cents a share, compared with $17.1 million, or 26 cents a share, in the year-ago period. Adjusted for amortization and stock-based compensation, among other things, earnings were $1.08 a share, vs. $1.05 a share in the year-ago quarter. Revenue rose to $330.2 million from $318.7 million in the year-ago period. Adjusted for “customer engagement” and “cyber intelligence,” among other items, revenue was $336.7 million. Analysts surveyed by FactSet had estimated adjusted earnings of $1.01 a share on adjusted revenue of $333.4 million. For the fiscal first quarter, analysts model adjusted earnings of 62 cents a share and sales of $311 million. Verint said that it was raising its full-year fiscal 2020 guidance to adjusted earnings of $3.60 a share and revenue of roughly $1.37 billion. Analysts polled by FactSet model earnings of $3.52 a share and sales of $1.33 billion. Verint stock has gained 37% in the past year, with the S&P 500 index rising 7.9%.
Source : MTV
