Stock Track | ACI Worldwide Stock Soars on Robust Q3 Results, Raised 2024 Guidance

Stock Track11-07

Shares of ACI Worldwide Inc (ACIW) surged by over 7% in early trading on Thursday, following the company's impressive third-quarter 2024 financial performance and an upward revision in its full-year guidance.

For the three months ended September 30, 2024, ACI Worldwide reported adjusted earnings of $0.97 per share, significantly outpacing analysts' consensus estimate of $0.60 per share. Revenue for the quarter stood at $451.8 million, surpassing the expected $403.3 million. The company's strong results were driven by solid demand for its electronic payments and banking software solutions.

Encouraged by the robust performance, ACI Worldwide raised its revenue and adjusted EBITDA guidance for the full year 2024. The company now expects revenue in the range of $1.567 billion to $1.601 billion, higher than its previous forecast of $1.557 billion to $1.591 billion. Similarly, the adjusted EBITDA guidance was increased to a range of $433 million to $448 million, up from the earlier range of $423 million to $438 million.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment