Tyler Technologies Second Quarter 2024 Earnings: EPS Beats Expectations

Tyler Technologies (NYSE:TYL) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$541.0m (up 7.3% from 2Q 2023).
• Net income: US$67.7m (up 38% from 2Q 2023).
• Profit margin: 13% (up from 9.7% in 2Q 2023). The increase in margin was driven by higher revenue.
• EPS: US$1.59 (up from US$1.17 in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Tyler Technologies EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 17%.

Looking ahead, revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Software industry in the US.

Performance of the American Software industry.

The company's shares are up 7.3% from a week ago.

Valuation

Our analysis of Tyler Technologies based on 6 different valuation metrics shows it might be overvalued. Click here to find out what a fair price for the stock might be and where analysts see the share price heading over the next year.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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