By Mackenzie Tatananni
Shares of Verint Systems surged in early trading Thursday after the automation-software company posted a strong fiscal first quarter and offered a rosy outlook for the year.
Adjusted earnings of 29 cents a share topped the 13 cents a share Wall Street had anticipated, according to FactSet. While revenue of $208.1 million fell from $221.3 million in the previous year, the figure topped the $194.6 million analysts were expecting.
The stock climbed 15% to $21.14, on pace for its largest same-day percent increase since December, according to Dow Jones Market Data. The S&P 500 and Nasdaq Composite were marginally lower.
Verint specializes in customer-experience automation, or the use of artificial intelligence-powered bots to streamline certain tasks and, theoretically, save money. "Each of our bots automates a single human function to augment agents, managers, and other roles across the organization," the company website reads.
Verint uses a subscription-based model for some of its offerings. Subscription annual recurring revenue rose 6.3% to $710 million in the quarter. AI ARR, a subcategory that includes sales of software powered by artificial intelligence, grew 24% to $354 million, representing nearly half of total subscription ARR.
CEO and Chairman Dan Bodner emphasized Verint's "strong AI momentum" in the quarter. "Customers can benefit from AI value now, without delay, and can start small with quick AI deployments in real production environments," Bodner said in a statement.
Verint said it expects revenue of $960 million and adjusted earnings of $2.93 a share for the fiscal year, compared with the $955 million and $2.90 a share Wall Street was looking for. The company forecasts subscription ARR to increase 8% to $768 million.
Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
June 05, 2025 09:49 ET (13:49 GMT)
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