July 30 (Reuters) - Tyler Technologies ( TYL ) beat Wall
Street expectations for second-quarter revenue on Wednesday,
helped by steady demand for its IT and cloud-based software
services.
Shares of the company rose about 3% in extended trading.
Demand for Tyler's services has grown as more businesses and
government agencies transition to cloud-based solutions to
streamline operations.
The company provides integrated information management
solutions and professional IT services primarily to the public
sector, including local governments, courts, and schools.
It reported second-quarter revenue of $596.1 million,
beating analysts' estimates of $587.9 million, according to data
compiled by LSEG.
The company also slightly raised its annual revenue forecast
to between $2.33 billion and $2.36 billion, up from a prior
range of $2.31 billion to $2.35 billion.
For the quarter ended June 30, Tyler reported earnings
of $1.93 per share, compared with $1.57 per share a year
earlier.