Verint Systems Inc. (NASDAQ:VRNT) shares closed more than 5% lower today despite the company’s reported Q1 results, with EPS of $0.52 coming in better than the Street estimate of $0.47. Revenue was $218 million, beating the Street estimate of $215.42 million.
Management believes that current macro challenges like wage inflation, labor scarcity, and post-pandemic hybrid work will boost demand for the company’s Workforce Engagement (over 50% revenue), Digital-first, and Experience Management solutions, as enterprises’ digitalization and desire for superior, more productive, contextual omnichannel communications with customers continue unabated.
The company expects full 2023-year EPS of $2.50, compared to the Street estimate of $2.51, and revenue of $940 million, compared to the Street estimate of $943 million.