Vertex Expects Q2 Revenues Of $159M-$162M (Est $160.348M), Continues To Expect $650M-$660M For FY24 (Est $656.43M)
Portfolio Pulse from Benzinga Newsdesk
Vertex forecasts Q2 revenues to be between $159M-$162M, aligning with estimates of $160.348M, and maintains its full-year 2024 revenue projection of $650M-$660M, closely matching the $656.43M estimate. The company also anticipates a 28% growth in cloud revenue and an adjusted EBITDA of $130M-$135M for FY24.
May 08, 2024 | 11:18 am
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Vertex expects Q2 revenues of $159M-$162M, closely aligning with analyst estimates, and maintains its FY24 revenue forecast of $650M-$660M, indicating strong performance and growth, especially in cloud services.
Vertex's revenue forecast for Q2 and the full year closely matches analyst expectations, indicating the company's strong performance and growth prospects, especially in cloud services. This alignment with expectations, coupled with the projected growth in cloud revenue, is likely to be viewed positively by investors, potentially leading to a short-term positive impact on VERX's stock price.
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