Verint (VRNT) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

Core Insights - Verint Systems (VRNT) reported revenue of $210.17 million for the quarter ended July 2024, reflecting a year-over-year decline of 0.1% and an EPS of $0.49, slightly up from $0.48 a year ago [1] - The reported revenue fell short of the Zacks Consensus Estimate of $213.22 million, resulting in a surprise of -1.43%, while the EPS also missed the consensus estimate of $0.53 by -7.55% [1] Revenue Breakdown - Perpetual revenue (non-GAAP) was reported at $23.83 million, exceeding the average estimate of $22.69 million from three analysts, but showing a year-over-year decline of -5.5% [3] - Professional services revenue (non-GAAP) reached $23.11 million, slightly above the average estimate of $22.99 million, with a year-over-year change of -3.5% [4] - Support revenue (non-GAAP) was reported at $26.56 million, surpassing the average estimate of $25.67 million, but indicating a significant year-over-year decline of -25% [5] Stock Performance - Over the past month, shares of Verint have returned -7.7%, contrasting with the Zacks S&P 500 composite's increase of +3.6% [5] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [5]