NEW YORK: Verint Systems Inc. stock has lost over 10% of its value today, as the company posted a substantial miss in third quarter of fiscal 2016 (3QFY16) revenue, along with a narrow miss on earnings. The company further disappointed the investors, as it lowered fiscal year 2016 (FY16) guidance.
The intelligence solutions provider posted $285.3 million in 3QFY15 revenue, compared to the consensus estimate of $298.77 million. The quarterly earnings per share (EPS) came in at $0.78, which missed the consensus forecast of $0.79.
Verint lowers FY16 EPS outlook from $3.45 to $3.30, compared to the analysts’ consensus of $3.46. It reduced the yearly revenue guidance range from $1.18-1.23 billion to $1.15-1.19 billion, which also disappointed the consensus forecast of $1.2 billion.
