MELVILLE, N.Y. - Verint Systems Inc. (NASDAQ:VRNT), a customer experience automation company, saw its shares surge 14.75% after reporting third-quarter earnings that significantly exceeded analyst expectations.
The company reported adjusted earnings per share of $0.54 for the third quarter, surpassing the analyst estimate of $0.43 by $0.11. Revenue for the quarter came in at $224 million, beating the consensus estimate of $210.14 million. Compared to the same quarter last year, revenue increased by 6.6%.
Verint's strong performance was driven by robust demand for its AI-powered customer experience solutions. The company recently introduced a new CX/EX Scoring Bot, which provides real-time insights into customer and employee experiences.
"These richer CX and EX insights provide the accurate and timely data needed to deliver strong AI business outcomes driven by elevated customer satisfaction, reduced customer churn and increased efficiency in the contact center," said Josh Feast, Verint's general manager of AI-powered Real-time Coaching.
Looking ahead, Verint provided guidance for the full fiscal year 2024. The company expects adjusted earnings per share of $2.90, slightly below the consensus estimate of $2.91. Revenue is projected to be $933 million, in line with analyst expectations.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.