Verint Systems Inc. (VRNT) announced its second-quarter financial results, revealing a net income attributable to common shareholders of $1.45 million, or $0.02 per share. This marks a significant turnaround from the previous year’s loss of $11.20 million, or $0.17 per share.In Wednesday’s regular trading session, VRNT closed at $29.87, down by $0.31 or 1.03%. The stock continued to decline in after-hours trading, dropping by $5.22 or 17.48%.On a non-GAAP basis, the company’s earnings were $0.49 per share, slightly up from $0.48 per share last year. However, this fell short of analysts’ expectations polled by Thomson Reuters, who had forecasted earnings of $0.53 per share, typically excluding special items.Revenue for the second quarter stood at $210 million, remaining flat on a reported basis year-over-year, but showing a 3% increase when adjusted for the divestiture of the quality managed services business on January 31, 2024. Analysts had anticipated revenue of $212.84 million for the quarter.For the fiscal year ending January 31, 2025, Verint projects non-GAAP earnings per share to be approximately $2.90, reflecting a 6% increase year-over-year. The company also expects non-GAAP revenue to be around $933 million, plus or minus 2%, indicating a 5% year-over-year growth. Wall Street forecasts earnings of $2.91 per share on annual revenues of $936.17 million for the same period.Additionally, Verint’s board has authorized a new stock repurchase program effective from August 29, 2024, to August 29, 2026. The company may repurchase shares of common stock for up to an aggregate of $200 million during this repurchase period.The material has been provided by InstaForex Company – www.instaforex.com
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