Envestnet (ENV) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
Envestnet (ENV) reported $312.43 million in revenue for the quarter ended June 2023, representing a year-over-year decline of 2%. EPS of $0.46 for the same period compares to $0.49 a year ago.
The reported revenue represents a surprise of -0.85% over the Zacks Consensus Estimate of $315.1 million. With the consensus EPS estimate being $0.46, the company has not delivered EPS surprise.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Envestnet performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Platform Assets - Total AUM/A: $778.9 billion compared to the $717.2 billion average estimate based on three analysts.
Platform Assets - Assets under Administration (AUA): $394.1 billion versus the three-analyst average estimate of $359.5 billion.
Platform Assets - Assets under Management (AUM): $384.8 billion versus the three-analyst average estimate of $357.7 billion.
Revenues- Recurring revenues- Asset-based: $185.76 million versus $187.77 million estimated by four analysts on average.
Revenues- Total Recurring Revenues: $300.72 million versus $308.29 million estimated by four analysts on average.
Revenues- Professional services and other revenues: $11.71 million versus $9.07 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +33.7% change.
Revenues- Recurring revenues- Subscription-based: $114.96 million versus $118.27 million estimated by four analysts on average.
Revenues- Envestnet Data & Analytics- Recurring Revenue- Subscription-based: $39.45 million versus $40.76 million estimated by two analysts on average.
Revenues- Envestnet Wealth Solutions- Recurring Revenue- Subscription-based: $75.51 million versus $76.98 million estimated by two analysts on average.
View all Key Company Metrics for Envestnet here>>>
Shares of Envestnet have returned +3.7% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Envestnet, Inc (ENV) : Free Stock Analysis Report
