Why Shares of Verint Jumped Today

Shares of Verint Systems (NASDAQ: VRNT) rose on Thursday after the software company reported its third-quarter results and announced plans to split into two independent public companies. Verint also announced a strategic minority investment related to the separation, as well as a share buyback program. The stock was up 8.2% at 12:30 p.m. EST after being up as much as 16% earlier in the day.

Verint reported third-quarter revenue of $325 million, up 7.5% year over year and about $1.9 million below the average analyst estimate. Non-GAAP (adjusted) earnings per share was $0.94, up from $0.85 in the prior-year period and $0.09 higher than analyst expectations.

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Source Fool.com