Temenos surges on guidance lift, profit beat

(Sharecast News) - Shares in Temenos surged on Wednesday after the Swiss banking software company lifted its profit guidance and posted better-than-expected third-quarter earnings. Adjusted core earnings of $84.6m in the three month period beat estimates of $66.7m in a company-provided poll. It now expects full-year adjusted operating profit growth of 14% on a constant currency basis from at least 9% previously.

The Swiss firm slightly raised guidance for its subscription and SaaS (Software as a Service) metric in addition to earning per share, expecting 15-17% growth in 2025, from 10-12% before, and confirmed 2028 targets.

Reporting by Frank Prenesti for Sharecast.com