Envestnet (ENV) Q3 Earnings Top Estimates

Core Viewpoint - Envestnet reported quarterly earnings of $0.70 per share, exceeding the Zacks Consensus Estimate of $0.68, and showing an increase from $0.56 per share a year ago, indicating a positive earnings surprise of 2.94% [1] Financial Performance - The company achieved revenues of $345.95 million for the quarter ended September 2024, which was 1.23% below the Zacks Consensus Estimate, but up from $316.85 million in the same quarter last year [2] - Over the last four quarters, Envestnet has surpassed consensus EPS estimates three times and topped consensus revenue estimates three times as well [2] Stock Performance - Envestnet shares have increased approximately 27% since the beginning of the year, outperforming the S&P 500's gain of 24.3% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.73, with expected revenues of $359.43 million, and for the current fiscal year, the EPS estimate is $2.55 on revenues of $1.38 billion [7] - The outlook for the Financial Transaction Services industry, where Envestnet operates, is favorable, ranking in the top 31% of over 250 Zacks industries, suggesting potential for outperformance [8]