Verint Systems (VRNT) announced its financial results for the quarter ended July 2024, revealing a slight decline in revenue and a miss on earnings expectations. The company reported $210.17 million in revenue, marking a 0.1% year-over-year decrease. This figure fell short of the Zacks Consensus Estimate of $213.22 million, representing a negative surprise of 1.43%. Additionally, earnings per share (EPS) came in at $0.49, compared to $0.48 a year ago. However, this figure also missed the consensus EPS estimate of $0.53, resulting in a -7.55% surprise.
While investors often analyze year-over-year revenue and earnings changes, certain key metrics provide a deeper understanding of a company’s financial health. Examining these metrics in comparison to the previous year and analyst projections helps investors gauge the potential price performance of a stock.
Verint’s performance in the reported quarter, based on metrics closely monitored by Wall Street analysts, reveals the following:
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Perpetual Revenue (non-GAAP):
$23.83 million, compared to the average estimate of $22.69 million based on three analysts. This represents a -5.5% year-over-year change.*
Professional Services Revenue (non-GAAP):
$23.11 million, compared to the average estimate of $22.99 million based on three analysts. This signifies a -3.5% year-over-year change.*
Support Revenue (non-GAAP):
$26.56 million, compared to the average estimate of $25.67 million based on three analysts. This represents a significant -25% year-over-year change.The recent performance of Verint shares reflects the mixed earnings results. Over the past month, the stock has returned -7.7%, while the Zacks S&P 500 composite has gained +3.6%. Currently, the stock holds a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
For a more detailed analysis, you can access the full article on Zacks.com.
