Rimini Street (RMNI) Surprises Investors with Strong Earnings Beat
Quarterly Earnings Report Exceeds Expectations
Rimini Street (RMNI) reported quarterly earnings of $0.22 per share, beating the Zacks Consensus Estimate of $0.07 per share. In comparison, the company earned $0.14 per share at the same time last year. These earnings are adjusted for non-recurring items.
The earnings surprise this quarter stands at an impressive 214.29%. In the previous quarter, Rimini was expected to report earnings of $0.10 per share, but it ended up with only $0.07, a difference of -30%.
Revenue Performance
For the quarter ending September 2024, Rimini Street reported revenues of $104.67 million, exceeding the Zacks Consensus Estimate by 5.31%. This figure represents a slight decrease from last year’s revenues of $107.45 million. Over the last year, Rimini has topped consensus revenue estimates twice.
Looking Ahead: What’s Next for Rimini Street?
As Rimini Street continues to navigate a challenging year, investors are left wondering about the company’s future prospects. To assess this, examining earnings outlooks is vital. This involves current market expectations for upcoming quarters, as well as any recent changes to those estimates.
Research indicates that stock performance closely aligns with revisions to earnings estimates. Investors can either track these changes independently or use tools like the Zacks Rank, which effectively utilizes earnings revisions.
Following the latest earnings report, revisions for Rimini Street have been mixed. The current Zacks Rank is #3 (Hold), suggesting that the stock is likely to perform in line with the market soon. For upcoming quarters, the consensus EPS estimate stands at $0.08 on revenues of $98.1 million. For the current fiscal year, estimates are $0.32 on revenues of $407.36 million.
It’s important to note that industry performance can significantly influence Rimini Street’s stock as well. Within the Zacks Industry Rank, the Internet – Software sector is currently in the top 33% out of over 250 ranked industries. Historically, stocks in the top half of this ranking tend to outperform those in the bottom half by more than two to one.
Comparative Insights: Constellation Software Inc.
Another notable company in the same industry, Constellation Software Inc. (CNSWF), is scheduled to release its quarterly results on November 8. Analysts expect the company to report earnings of $20.42 per share, reflecting an 8.1% decline compared to last year. Current revenue projections for Constellation Software are $2.58 billion, a significant increase of 21.4% year-over-year.
Should You Invest in Rimini Street, Inc. (RMNI)?
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