Press release
SS&C Technologies Releases Q1 2020 Earnings
Q1 2020 GAAP revenue $1,173.6 million, up 3.2 percent, Fully Diluted GAAP Earnings Per Share $0.37, up 19.4% Adjusted revenue $1,178.0 million, up 2.4
About this update from Ss&c Technologies Holdings, Inc.
[{"type":"text","content":"Q1 2020 GAAP revenue $1,173.6 million, up 3.2 percent, Fully Diluted GAAP Earnings Per Share $0.37, up 19.4%\n Adjusted revenue $1,178.0 million, up 2.4 percent, Adjusted Diluted Earnings Per Share $1.03, up 13.2 percent\n SS&C to Acquire Innovest for $120 million\n\n\nWINDSOR, Conn., April 30, 2020 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (NASDAQ: SSNC), a global provider of investment, financial, and healthcare software-enabled services and software, today announced its financial results for the first quarter ended March 31, 2020.\n\n \n \n \n \n \n \n\n \nDue to the uncertainty caused by COVID-19, we are withdrawing our quarterly and 2020 guidance, instead providing 2020 scenario analysis, based on a number of assumptions, which can be found in our Q1 2020 earnings results slides at investor.ssctech.com. \nGAAP Results\nSS&C reported GAAP revenue of $1,173.6 million for the first quarter of 2020, up 3.2 percent compared to $1,137.2 million in the first quarter of 2019. GAAP operating income for the first quarter of 2020 was $218.8 million, or 18.6 percent of GAAP revenue, compared to GAAP operating income of $202.0 million, or 17.8 percent of GAAP revenue, in 2019's first quarter, representing an 8.3 percent increase. \nGAAP net income for the first quarter of 2020 was $99.2 million compared to GAAP net income of $80.8 million in 2019's first quarter, up 22.8%. On a fully diluted GAAP basis, earnings per share in the first quarter of 2020 were $0.37 per share compared to earnings per share of $0.31 on a fully diluted GAAP basis in the first quarter of 2019, up 19.4%. \nAdjusted Non-GAAP Results (defined in Notes 1-4 below)\nAdjusted revenue was $1,178.0 million for the first quarter of 2020, up 2.4 percent compared to $1,150.0 million in the first quarter of 2019. Adjusted operating income for the first quarter of 2020 was $444.2 million, or 37.7 percent of adjusted revenue, compared to $420.9 million, or 36.6 percent of adjusted revenue, in 2019's first quarter, representing a 5.5 percent increase and an increase of 110 basis points in adjusted operating margin. \nAdjusted net income for the first quarter of 2020 was $274.0 million, up 14.5 percent compared to $239.4 million in 2019's first quarter. Adjusted diluted earnings per share in the first quarter of 2020 were $1.03 per share, up 13.2 percent compared to $0.9...