SS&C Technologies (NASDAQ: SSNC) reported Q2 EPS of $0.62, $0.07 better than the analyst estimate of $0.55. Revenue for the quarter came in at $908.5 million versus the consensus estimate of $904.08 million.

Second Quarter Highlights:

• Adjusted net income was $154.6 million for Q2 2018, increasing 60.7 percent from Q2 2017\'s adjusted net income of $96.2 million.
• Adjusted consolidated EBITDA increased 78.3 percent to $291.8 million in Q2 2018. Adjusted consolidated EBITDA margin was 32.2 percent for the quarter.
• Paid down $408.2 million in debt since acquiring DST Systems, bringing our leverage ratio to 4.40 times consolidated EBITDA as of June 30, 2018.
• On July 31, 2018, SS&C announced a definitive agreement to acquire Eze Software in an all cash transaction of $1.45 billion.

"SS&C Technologies had strong performance across board in Q2 2018. We saw growth, stability, and innovation within our fund administration and software businesses, and the DST integration is progressing smoothly" said Bill Stone, Chairman and Chief Executive Officer. "Client feedback has been positive and we are leveraging our capabilities across the combined organization. We also announced our intention to acquire Eze Software, expected to close in Q4 2018. This acquisition will further SS&C's prominence in the hedge fund market, and strengthen our offering in front-office trading solutions."

GUIDANCE:

SS&C Technologies sees FY2018 revenue of $3.356-3.396 billion, versus the consensus of $3.38 billion.

For earnings history and earnings-related data on SS&C Technologies (SSNC) click here.