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.
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