Envestnet Inc Common Stock Earnings: Here’s Why the Stock is Down Now
Envestnet, Inc Common Stock (NYSE:ENV) delivered a profit and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0.59%.
Envestnet, Inc Common Stock Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 11.11% to $0.1 in the quarter versus EPS of $0.11 in the year-earlier quarter.
Revenue: Rose 46.04% to $44.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Envestnet, Inc Common Stock reported adjusted EPS income of $0.1 per share. By that measure, the company missed the mean analyst estimate of $0.1. It beat the average revenue estimate of $43.9 million.
Quoting Management: “During 2012, we successfully delivered on our organic growth and acquisition plans, growing adjusted revenue by 29 percent year over year,” said Jud Bergman, Chairman and CEO of Envestnet. “Our advisor base grew by 16 percent and accounts grew by 32 percent, demonstrating our ability to both add advisors to our platform, and more importantly deepen our relationship with them. This is strong evidence of Envestnet’s leadership role in empowering advisors to transform wealth management to a transparent, conflict-free and fully-aligned standard of care for investors.”
“We unify and simplify the wealth management process for advisors, empowering them to achieve higher standards in portfolio and practice management. As we empower advisors to deliver better results for their clients, we believe Envestnet is well-positioned to deliver substantial revenue growth and margin expansion in 2013,” concluded Mr. Bergman.
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