AGYS - Why Agilysys Stock Is Soaring Today
2023-10-24 13:23:54 ET
Shares of Agilysys (NASDAQ: AGYS) skyrocketed on Tuesday morning. The stock was up 23.4% just before noon ET, boosted by a robust second-quarter earnings report.
Your average Wall Street analyst had expected Agilysys to report adjusted earnings near $0.19 per share and sales in the neighborhood of $56.8 million. But the hospitality technology expert didn't stop there. Earnings rose 4% year over year to $0.25 per share. Top-line sales increased by 23%, landing at $58.6 million.
Management also raised the full-year revenue outlook by $4 million, suggesting solid growth in the back half of the company's fiscal year. Subscription revenues, in particular, are accelerating faster than expected at the cost of slightly lower profit margins.
For further details see:
Why Agilysys Stock Is Soaring Today