Sapiens Q3 Earnings Rise, In Line With View; Confirms FY23 Outlook

(RTTNews) - Sapiens International Corp. N.V. (SPNS), a software solution provider, on Wednesday reported higher earnings and revenue for the third quarter. Earnings also matched the Street view.

Further, the company maintained its adjusted revenue outlook for fiscal 2023.

Quarterly earnings increased 18.5 percent to $15.9 million or $0.28 per share from $13.4 million or $0.24 per share for the same period last year.

Excluding items, the company reported a profit of $19.1 million or $0.34 per share compared to earnings of $16.9 million or $0.30 per share in the previous year.

On average, six analysts polled by Thomson Reuters had expected earnings of $0.34 per share for the year. Analysts' estimates typically exclude special items.

Revenue rose 9.8 percent to $130.7 million from $119.0 million in the prior year, driven by growth in European and North America regions. Adjusted revenue was $130.8 million.

Analysts on average were expecting the company to report revenue of $129.97 million.

Looking forward to the full year, the company said it continues to expect adjusted revenue in the range of $511 million to $516 million. The analysts' estimate $514.16 million.

On Tuesday, Sapiens shares closed at $27.95 down 0.39% on Nasdaq.