Rimini Street (RMNI) Q2 Earnings and Revenues Miss Estimates

Core Viewpoint - Rimini Street reported quarterly earnings of $0.07 per share, missing the Zacks Consensus Estimate of $0.10 per share, representing a -30% earnings surprise [1] - The company also reported revenues of $103.12 million for the quarter, which was 3.10% below the Zacks Consensus Estimate and a decrease from $106.42 million year-over-year [2] Financial Performance - Earnings for the previous year were $0.10 per share, indicating a decline in earnings year-over-year [1] - Over the last four quarters, the company has surpassed consensus EPS estimates two times [2] - The current consensus EPS estimate for the upcoming quarter is $0.09, with expected revenues of $107.45 million, and for the current fiscal year, the estimate is $0.40 on revenues of $431.61 million [7] Stock Performance - Rimini Street shares have decreased by approximately 3.7% since the beginning of the year, contrasting with the S&P 500's gain of 14% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Industry Outlook - The Internet - Software industry is currently ranked in the top 40% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact investor decisions [5]