Verint Systems (VRNT - Free Report) reported third-quarter fiscal 2019 adjusted earnings of 85 cents per share, which increased 28.8% year over year and comfortably beat the Zacks Consensus Estimate of 71 cents.
Revenues of $303.9 million increased 8.3% year over year driven by higher sales of Verint’s actionable intelligence solutions.
Product revenues (36.7% of total revenues) grew 17.8% year over year to $111.7 million. Service and support revenues (63.3%) increased 3.5% year over year to $192.3 million.
Segment wise, Customer Engagement revenues (65%) increased 8.7% year over year to $197.5 million primarily due to Verint’s key innovations in the area of automation.
With about 50% growth in patents and applications in automation, in the last 12 months, the company won customers like UCB in the current quarter, thereby enhancing customer experience. Notably, Verint’s customer engagement portfolio supports more than 3 billion cloud interactions across its customer base on an annual basis.
Cyber Intelligence revenues (35%) grew 7.4% year over year to $106.5 million primarily due to growing demand for data protection software. The company’s ability to anticipate new market trends and bring solutions to address the same helped it win approximately $75 million worth of orders in the reported quarter.
By geography, revenues from Americas (55.9%) grew 13.3% year over year to $170 million and revenues from APAC (19.4%) increased 28.3% year over year to $59 million. However, revenues from EMEA (26%) declined 10.2% year over year to $79 million.
Verint Systems Inc. Price, Consensus and EPS Surprise