(Reuters) -Tyler Technologies beat Wall Street expectations for second-quarter revenue on Wednesday, helped by steady demand for its IT and cloud-based software services.
Shares of the company rose about 3% in extended trading.
Demand for Tyler’s services has grown as more businesses and government agencies transition to cloud-based solutions to streamline operations.
The company provides integrated information management solutions and professional IT services primarily to the public sector, including local governments, courts, and schools.
It reported second-quarter revenue of $596.1 million, beating analysts’ estimates of $587.9 million, according to data compiled by LSEG.
The company also slightly raised its annual revenue forecast to between $2.33 billion and $2.36 billion, up from a prior range of $2.31 billion to $2.35 billion.
For the quarter ended June 30, Tyler reported earnings of $1.93 per share, compared with $1.57 per share a year earlier.
(Reporting by Kritika Lamba and Zaheer Kachwala in Bengaluru; Editing by Tasim Zahid)
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