Why SS&C Technologies Holdings Stock Skyrocketed on Friday
Yahoo Finance ·
The under-the-radar tech stock SS&C Technologies Holdings ( SSNC +10.42% ) was a double-digit winner on Friday. Investors eagerly bought shares of the company, which specializes in software solutions for healthcare and finance sector clients. An earnings-beating quarterly report had much to do with this surge. SS&C took the wraps off its second-quarter numbers just after market close on Thursday. Its revenue for the period was $1.7 billion, which was more than 10% higher year over year. More impressively, net income not under generally accepted accounting principles (non-GAAP, or adjusted) advanced by 13% to almost $426 million, or $1.76 per share. That meant a double beat on consensus analyst estimates for SS&C. Collectively, prognosticators following the stock were expecting $1.66 billion on the top line and $1.68 per share for adjusted net profit. In its earnings release, the company said that it was firing on all cylinders. It quoted CEO Bill Stone as saying that its growth was fueled by "strong sales, robust renewal performance, healthy retention, and steady margin expansion."
AI 시장 분석
SS&C Technologies Holdings (SSNC) shares jumped on Friday due to its exceptional second-quarter earnings. The company provides software solutions for healthcare and financial sector clients. Its revenue rose to $170 million, a 10% increase from the same period last year, and net income rose 13% to $42.6 million, $1.76 per share.
상승 영향
- IT — SS&C Technologies Holdings' (SSNC) exceptional second-quarter earnings drove the stock jump. Revenue rose to $170 million, a 10% increase from the same period last year, and net income rose 13% to $42.6 million, $1.76 per share.
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