RealPage (RP) Tops Q3 EPS by 1c; Guides In-Line
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RealPage (NASDAQ: RP) reported Q3 EPS of $0.20, $0.01 better than the analyst estimate of $0.19. Revenue for the quarter came in at $148 million versus the consensus estimate of $147.07 million.
RealPage sees FY2016 EPS of $0.73-$0.75, versus the consensus of $0.73. RealPage sees FY2016 revenue of $566-569 million, versus the consensus of $570.22 million.
“During the third quarter, RealPage again achieved strong operating results,” said Steve Winn, Chairman and CEO of RealPage. “Total revenue growth of 22% was driven primarily by strong subscription revenue growth of 24%, which represents 90% of total on demand revenue. With each quarter we get closer to achieving our vision for the rental housing market – one in which property owners and managers utilize our massive data repository and comprehensive solutions to fundamentally transform the operational and transactional elements of their businesses.”
Winn continued, “Our profit performance continues to exceed our expectations. Adjusted EBITDA margin expanded 230 basis points compared to the prior year quarter, driven primarily by efficiency gains across the business combined with ongoing acquisition synergies. As a result of this focus on efficiency, we are raising our full year 2016 profit expectations.”
For earnings history and earnings-related data on RealPage (RP) click here.
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