Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of SS&C Technologies have skyrocketed by as much as 10% today after the company posted record first-quarter results.
So what: Revenue in the first quarter came in at $173.2 million, slightly ahead of the consensus estimate of $173 million. Adjusted earnings per share was $0.45, topping the Street's $0.43 per share best guess. On an annualized basis, SS&C notes it is on track for $647 million in annual revenue.
Now what: SS&C considers its annual run rate forecasts as a good indicator of visibility. Guidance for the second quarter calls for revenue in the range of $175 million to $179 million. Full-year sales should be $712 million to $722 million. The midpoints of both guidance ranges are ahead of what analysts were expecting.
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The article Why SS&C Technologies Shares Skyrocketed originally appeared on Fool.com.
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