Sapiens Q2 Profit Increases, Adj. Earnings Misses Estimates

(RTTNews) - Sapiens International Corp. (SPNS) Wednesday reported a 14.5 percent increase in second-quarter earnings, while revenues were up 3.7 percent.

The company's quarterly earnings were $11.9 million, up from $10.4 million last year. On a per share basis, earnings were $0.21, up 10.53 percent from $0.19 per share last year. Adjusted earnings were $0.27 per share.

On average, 5 analysts polled by Thomson Reuters expected the company to earn $0.29 per share. Analysts estimates usually exclude special items.

The global provider of software solutions for the insurance industry's revenue for the quarter increased to $118.6 million from $114.4 a year ago. Analysts were looking for revenue of $122.44 million.

In another development, abrdn Plc has reportedly increased its stake in Sapiens by 10.9 percent in the first quarter