Q: Hi, Thoughts on quarter - seems to be some profit taking. Results seem OK.
Cheers, Chris
Cheers, Chris
5i Research Answer:
EPS of 42c matched estimates; revenue of $2.26B beat estimates of $2.13B. EBITDA of $174.8M missed estimates by 8%. Professional service revenue rose 13%. After a strong preceeding quarter, expectations were high for this quarter. Higher stock based compensation charges hurt results as the share price rose. The results and miss on EBITDA hit the stock, but it remains up 24% YTD. Backlog hit a record at $15.3B. Hardly a disaster here, just not as good as the last quarter.