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 >
OfficeSpace Acquires Dojo AI, Becomes First AI Operating System for the Built Environment
OfficeSpace Acquires Dojo AI, Becomes First AI Operating System for the Built Environment
Oct 8, 2025
ATLANTA--(BUSINESS WIRE)-- OfficeSpace Software, the leading AI workplace management platform, today announced the acquisition of Dojo AI, the patented AI for space planning and workplace analytics. Dojo’s technology slashes planning cycle times from months to minutes and leverages powerful algorithms that improve team performance and catalyze growth. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251008366402/en/ With this...
Reo.Dev Debuts AI-Native GTM Platform for DevTool Companies with $4M Seed Funding
Reo.Dev Debuts AI-Native GTM Platform for DevTool Companies with $4M Seed Funding
Oct 8, 2025
SAN FRANCISCO, Oct. 08, 2025 (GLOBE NEWSWIRE) -- Reo.Dev, the only Intent Platform built specifically for developer-first software companies, has announced a $4 million seed investment led by Heavybit, with participation from India Quotient and Foster Ventures. More than 100 developer-first companies, including Chainguard, Datahub, LangChain, and N8N are already using Reo.Dev to turn developer activity into actionable Developer Intent...
Quilter Secures $25M Series B to Eliminate Manual PCB Design with Physics-Driven AI
Quilter Secures $25M Series B to Eliminate Manual PCB Design with Physics-Driven AI
Oct 8, 2025
Index Ventures backs Quilter to automate circuit board design, a trillion-dollar bottleneck found in everything from phones to fighter jets. LOS ANGELES--(BUSINESS WIRE)-- Quilter, the first and only company to publicly demonstrate fully autonomous PCB layout through physics-driven AI, today announced $25 million in Series B funding led by Index Ventures. The investment comes as Fortune 500 aerospace, defense, and...
Brightspeed Launches Nation's Best Value in 8 Gig Fiber Internet Service with Whole-Home WiFi 7
Brightspeed Launches Nation's Best Value in 8 Gig Fiber Internet Service with Whole-Home WiFi 7
Oct 8, 2025
New offering delivers unmatched speed, smarter connectivity and a premium installation experience CHARLOTTE, N.C., Oct. 8, 2025 /PRNewswire/ -- Brightspeed, one of the nation's largest fiber broadband builders and provider of the country's fastest internet service, as determined by HighSpeedInternet.com's Annual Service Provider Review 2025, today announced the launch of its groundbreaking 8 Gig internet service paired with next-generation WiFi 7...
Copyright 2023-2026 - www.financetom.com All Rights Reserved