FMP
Verint Systems Drops 15% Following Q2 Results
Sep 7, 2023 4:24 PM - Davit Kirakosyan(Last modified: Dec 19, 2023 6:49 PM)
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Verint Systems (NASDAQ:VRNT) experienced a 15% decline intra-day today due to the company's announcement of a full-year sales outlook that fell short of expectations.
In the second quarter, Verint reported adjusted earnings per share (EPS) of $0.48, with revenue totaling $210.4 million. These figures contrasted with the Street estimates of an EPS of $0.57 and revenue of $225.1 million. The company's adjusted gross margin of 69.5% was slightly below the estimated margin of 69.8%.
Looking ahead, Verint anticipates its fiscal 2024 revenue to reach $910 million, which is lower than the Street expectation of $934.58 million.
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