HOLON, Israel (AP) — HOLON, Israel (AP) — Sapiens International Corp. (SPNS) on Wednesday reported first-quarter profit of $17.4 million.
The Holon, Israel-based company said it had net income of 31 cents per share. Earnings, adjusted for one-time gains and costs, were 36 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 35 cents per share.
The provider of software and services to the insurance industry posted revenue of $134.2 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $133.6 million.
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