Press release
SS&C Technologies Releases Q2 2020 Earnings, Announces Renewal and Increase of Common Stock Repurchase Program for $750 million
Q2 2020 GAAP revenue $1,138.1 million, down 0.9%, Fully Diluted GAAP Earnings Per Share $0.64, up 42.2% Adjusted revenue $1,140.8 million, down 1.3%, Adjusted
About this update from Ss&c Technologies Holdings, Inc.
[{"type":"text","content":"Q2 2020 GAAP revenue $1,138.1 million, down 0.9%, Fully Diluted GAAP Earnings Per Share $0.64, up 42.2%\n Adjusted revenue $1,140.8 million, down 1.3%, Adjusted Diluted Earnings Per Share $1.04, up 14.3%\n Cash flow provided by operations for the six months ended June 30, 2020 was $555.7 million, up 33.4%\n\n\nWINDSOR, Conn., July 28, 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the second quarter ended June 30, 2020.\n\n \n \n \n \n \n \n\n \nDue to the uncertainty caused by COVID-19, we have withdrawn our quarterly and 2020 guidance, instead providing 2020 scenario analysis, based on a number of assumptions, which can be found in our Q2 2020 earnings results slides at investor.ssctech.com. \nGAAP Results\nSS&C reported GAAP revenue of $1,138.1 million for the second quarter of 2020, down 0.9% compared to $1,148.0 million in the second quarter of 2019. GAAP operating income for the second quarter of 2020 was $241.3 million, or 21.2% of GAAP revenue, compared to GAAP operating income of $223.5 million, or 19.5% of GAAP revenue, in 2019's second quarter, representing an 8.0% increase. \nGAAP net income for the second quarter of 2020 was $169.5 million compared to GAAP net income of $121.1 million in 2019's second quarter, up 40.0%. On a fully diluted GAAP basis, earnings per share in the second quarter of 2020 were $0.64 per share compared to earnings per share of $0.45 on a fully diluted GAAP basis in the second quarter of 2019, up 42.2%. \nAdjusted Non-GAAP Results (defined in Notes 1-4 below)\nAdjusted revenue was $1,140.8 million for the second quarter of 2020, down 1.3% compared to $1,155.8 million in the second quarter of 2019. Adjusted operating income for the second quarter of 2020 was $430.1 million, or 37.7% of adjusted revenue, compared to $426.2 million, or 36.9% of adjusted revenue, in 2019's second quarter, representing a 0.9% increase and an increase of 80 basis points in adjusted operating margin. \nAdjusted net income for the second quarter of 2020 was $276.1 million, up 14.3% compared to $241.6 million in 2019's second quarter. Adjusted diluted earnings per share in the second quarter of 2020 were $1.04 per share, up 14.3% compared to $0.91 per shar...