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Vertex (VERX) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended September 2024, Vertex (VERX - Free Report) reported revenue of $170.44 million, up 17.5% over the same period last year. EPS came in at $0.16, compared to $0.10 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $165.53 million, representing a surprise of +2.96%. The company delivered an EPS surprise of +14.29%, with the consensus EPS estimate being $0.14.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Vertex performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Annual Recurring Revenue: $576.80 million versus the two-analyst average estimate of $564.45 million.
Revenues- Services: $24.18 million versus $24.34 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +1.9% change.
Revenues- Software subscriptions: $146.25 million versus $141.25 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +20.6% change.
Shares of Vertex have returned +6.1% over the past month versus the Zacks S&P 500 composite's +0.7% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.
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Vertex (VERX) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended September 2024, Vertex (VERX - Free Report) reported revenue of $170.44 million, up 17.5% over the same period last year. EPS came in at $0.16, compared to $0.10 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $165.53 million, representing a surprise of +2.96%. The company delivered an EPS surprise of +14.29%, with the consensus EPS estimate being $0.14.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Vertex performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Annual Recurring Revenue: $576.80 million versus the two-analyst average estimate of $564.45 million.
- Revenues- Services: $24.18 million versus $24.34 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +1.9% change.
- Revenues- Software subscriptions: $146.25 million versus $141.25 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +20.6% change.
View all Key Company Metrics for Vertex here>>>Shares of Vertex have returned +6.1% over the past month versus the Zacks S&P 500 composite's +0.7% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.