financetom
Technology
financetom
/
Technology
/
Software firm Roper lifts annual forecasts above estimates on strong demand
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Software firm Roper lifts annual forecasts above estimates on strong demand
Oct 23, 2024 5:25 AM

Oct 23 (Reuters) - Roper Technologies ( ROP ) raised its

full-year profit and revenue forecasts above Wall Street

estimates on Wednesday on improved demand for its enterprise

software services that cater to industries including healthcare

and legal.

The results are a positive sign for the company that had

been struggling with weak spending on its diverse software

portfolio in a tough economy, leading to delayed contract

renewals.

Roper in August agreed

to buy

Transact Campus for $1.5 billion to strengthen its business

that serves higher education institutions and healthcare

facilities, in a bid to improve its fortunes.

The company updated the lower end of its annual adjusted

profit forecast to between $18.21 and $18.25 per share, compared

with the prior view of $18.10 to $18.25.

The mid-point of the revised forecast is above analysts'

average estimate of $18.21, according to data compiled by LSEG.

The company expects its full-year revenue growth to be more

than 13%, compared with estimates of 11.9%.

It sees its fourth-quarter adjusted profit in the range of

$4.70 to $4.74 per share, the mid-point of which was below

estimates of $4.77.

Revenue from its application software business, Roper's

biggest, was $984.4 million for the quarter ended Sept. 30,

beating estimates of $950.5 million.

The company reported a revenue of $1.76 billion in the third

quarter, above estimates of $1.73 billion.

Its quarterly adjusted profit came in at $4.62 per share,

compared with estimates of $4.53.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Comparing Microsoft With Industry Competitors In Software Industry
Comparing Microsoft With Industry Competitors In Software Industry
Dec 20, 2024
Amidst the fast-paced and highly competitive business environment of today, conducting comprehensive company analysis is essential for investors and industry enthusiasts. In this article, we will delve into an extensive industry comparison, evaluating Microsoft ( MSFT ) in comparison to its major competitors within the Software industry. By analyzing critical financial metrics, market position, and growth potential, our objective is...
In-Depth Analysis: NVIDIA Versus Competitors In Semiconductors & Semiconductor Equipment Industry
In-Depth Analysis: NVIDIA Versus Competitors In Semiconductors & Semiconductor Equipment Industry
Dec 20, 2024
In the fast-paced and highly competitive business world of today, conducting thorough company analysis is essential for investors and industry observers. In this article, we will conduct an extensive industry comparison, evaluating NVIDIA ( NVDA ) in relation to its major competitors in the Semiconductors & Semiconductor Equipment industry. Through a detailed examination of key financial metrics, market standing, and...
Italy fines OpenAI 15 million euros over privacy rules breach
Italy fines OpenAI 15 million euros over privacy rules breach
Dec 20, 2024
MILAN, Dec 20 (Reuters) - Italy's privacy watchdog said on Friday it fined ChatGPT maker OpenAI 15 million euros ($15.58 million) after closing an investigation into use of personal data by the generative artificial intelligence application. The authority, known as Garante, is one of the European Union's most proactive regulators in assessing AI platform compliance with the bloc's data privacy...
Biden's daunting exit list: Gaza ceasefire, Ukraine aid, U.S. Steel
Biden's daunting exit list: Gaza ceasefire, Ukraine aid, U.S. Steel
Dec 20, 2024
(Reuters) - With a month left in the White House, U.S. President Joe Biden has a long list of foreign and domestic policy actions he hopes to get done before president-elect Donald Trump assumes office, where the Republican is expected to try to reverse much of Biden's record. Atop Biden's list are final, hurried pushes to secure a ceasefire in...
Copyright 2023-2026 - www.financetom.com All Rights Reserved