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Tyler Technologies (TYL) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended March 2024, Tyler Technologies (TYL - Free Report) reported revenue of $512.36 million, up 8.6% over the same period last year. EPS came in at $2.20, compared to $1.76 in the year-ago quarter.
The reported revenue represents a surprise of +0.90% over the Zacks Consensus Estimate of $507.79 million. With the consensus EPS estimate being $2.03, the EPS surprise was +8.37%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Tyler Technologies performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Annualized Recurring Revenues (ARR): $1.72 million versus $1.71 million estimated by four analysts on average.
Revenue- Subscriptions: $313.24 million versus $314.57 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +11.7% change.
Revenue- Professional services: $64.81 million versus the six-analyst average estimate of $62.71 million.
Revenue- Hardware and other: $8.36 million versus $6.82 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +60.8% change.
Revenue- Maintenance: $117.22 million versus the six-analyst average estimate of $113.61 million. The reported number represents a year-over-year change of +1.8%.
Revenue- Software licenses and royalties: $8.73 million versus $10.07 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -13.8% change.
Gross profit- Hardware and other: $3.70 million compared to the $1.55 million average estimate based on three analysts.
Gross profit- Software licenses and royalties: $7.17 million compared to the $6.65 million average estimate based on three analysts.
Shares of Tyler Technologies have returned +0.1% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Tyler Technologies (TYL) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended March 2024, Tyler Technologies (TYL - Free Report) reported revenue of $512.36 million, up 8.6% over the same period last year. EPS came in at $2.20, compared to $1.76 in the year-ago quarter.
The reported revenue represents a surprise of +0.90% over the Zacks Consensus Estimate of $507.79 million. With the consensus EPS estimate being $2.03, the EPS surprise was +8.37%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Tyler Technologies performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Annualized Recurring Revenues (ARR): $1.72 million versus $1.71 million estimated by four analysts on average.
- Revenue- Subscriptions: $313.24 million versus $314.57 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +11.7% change.
- Revenue- Professional services: $64.81 million versus the six-analyst average estimate of $62.71 million.
- Revenue- Hardware and other: $8.36 million versus $6.82 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +60.8% change.
- Revenue- Maintenance: $117.22 million versus the six-analyst average estimate of $113.61 million. The reported number represents a year-over-year change of +1.8%.
- Revenue- Software licenses and royalties: $8.73 million versus $10.07 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -13.8% change.
- Gross profit- Hardware and other: $3.70 million compared to the $1.55 million average estimate based on three analysts.
- Gross profit- Software licenses and royalties: $7.17 million compared to the $6.65 million average estimate based on three analysts.
View all Key Company Metrics for Tyler Technologies here>>>Shares of Tyler Technologies have returned +0.1% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.