BUZZ-Verint Systems up after Q3 results beat expectations

Reuters

2024/12/05

** Shares of customer engagement software firm Verint Systems rise ~22% to $31.65 premarket

** On Wednesday, VRNT's Q3 sales of $224.2 mln beat analysts' est of $210.1 mln, according to LSEG data, helped by strong AI momentum in its bundled software as a service products

** Co's Q3 profit of 54 cents/shr beats est. of 43 cents/shr

** Brokerage TD Cowen says it expects VRNT to "achieve rule-of-40 performance", referring to combination of revenue growth and profit margins to meet or exceed a total of 40%

** As of last close, stock has fallen 3.9% YTD

(Reporting by Kamal Choudhury in Bengaluru)

((Kamal.Choudhury@thomsonreuters.com;))

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