Why Huron Consulting's Shares Jumped
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 HuronConsulting jumped as much as 26% in early trading before settling in at a 9% gain after reporting earnings.
So what: Revenue jumped 17.8% in the second quarter to $170.4 million and net income was up 143% to $15.8 million. Adjusting for one-time items, earnings per share was $0.75, which came in well ahead of the $0.61 per share analysts expected.
Now what: Management said health and education solutions have driven results as clients have been put under pressure to reduce costs and improve quality. They also raised guidance for the full year to $670 million-$690 million of revenue and non-GAAP earnings of $2.55 to $2.70 per share. That's within Wall Street's expectations and shows strong momentum across the business, which should help push the stock higher.
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The article Why Huron Consulting's Shares Jumped originally appeared on Fool.com.Fool contributor Travis Hoium has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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