SS&C Q2 Profit Jumps 30%, Guides Above Street on Full-Year EPS
SSNC is trading near its 52-week low of $61.401 (13% above the low).
Summary
SS&C posted Q2 GAAP EPS of $0.97 on revenue of $1.695B, up 10.4% YoY, with net income surging 30% to $234.8M. Adjusted EPS of $1.76 beat the $1.70 consensus. The company issued full-year adjusted EPS guidance of $6.93–$7.25, well above the $6.85 Street estimate, and revenue guidance of $6.672B–$6.832B. This follows yesterday's initial Q2 release and the $1.5B buyback authorization from May. The strong guidance raise signals management confidence in sustained demand across its financial technology platform. Next quarter's revenue midpoint of $1.677B implies continued double-digit growth.
At the time of this announcement, SSNC was trading at $69.10 on NASDAQ in the Technology sector, with a market capitalization of approximately $16.1B. The 52-week trading range was $61.40 to $91.07. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: dpa-AFX.