Shares of ACI Worldwide Inc (ACIW) surged over 6% in pre-market trading on Thursday, following the company's stronger-than-expected third-quarter 2024 financial results and an upward revision in its full-year guidance.
The provider of software and solutions for electronic payments and banking reported adjusted earnings of $0.97 per share for the third quarter, significantly outpacing analysts' consensus estimate of $0.60 per share. Revenue for the quarter came in at $451.8 million, surpassing the expected $403.3 million.
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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