Tyler Technologies (TYL) Tops Q2 Earnings and Revenue Estimates

Company Performance - Tyler Technologies reported quarterly earnings of $2.40 per share, exceeding the Zacks Consensus Estimate of $2.34 per share, and up from $2.01 per share a year ago, representing an earnings surprise of 2.56% [1] - The company posted revenues of $540.98 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 0.68%, compared to $504.28 million in the same quarter last year [2] - Over the last four quarters, Tyler Technologies has surpassed consensus EPS estimates four times and topped consensus revenue estimates two times [2] Stock Performance - Tyler Technologies shares have increased approximately 25.9% since the beginning of the year, outperforming the S&P 500's gain of 16.5% [3] - The current consensus EPS estimate for the upcoming quarter is $2.38, with expected revenues of $542.75 million, and for the current fiscal year, the EPS estimate is $9.19 on revenues of $2.13 billion [6] Industry Outlook - The Business - Software Services industry, to which Tyler Technologies belongs, is currently in the top 20% of over 250 Zacks industries, indicating a favorable outlook [7] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact Tyler Technologies' stock performance [4]