Constellation Software reported a rise in profit as acquisitions boosted revenue in the second quarter.
The Canadian company, which focuses on acquiring smaller software firms, reported a profit on Tuesday of $274 million or $12.93 a share, compared with $56 million, or $2.66 a share, a year earlier.
Revenue rose 17% to $3.34 billion from $2.84 billion, driven by growth from acquisitions. Organic growth was 3%.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.