QTWO - Why Q2 Holdings Stock Soared Today
2024-02-22 17:37:50 ET
Shares of Q2 Holdings (NYSE: QTWO) closed up 9.9% on Thursday after the digital banking solutions company announced strong fourth-quarter results and encouraging forward guidance.
Q2's fourth-quarter revenue grew 11% year over year to $162.1 million, translating to adjusted ( non-GAAP ) net income of $0.27 per share. Analysts, on average, were modeling earnings of $0.24 per share on slightly lower revenue.
Q2 Holdings CEO Matt Flake noted the company closed the year with its best bookings performance on record, including its two largest-ever deals. Indeed, Q2 signed four tier-1 digital banking contracts during the quarter, including a top-10 U.S. credit union using its retail solutions, and three banks utilizing its commercial and small business solutions.
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Why Q2 Holdings Stock Soared Today