CoreCard climbs on revenue beat, raises outlook

CoreCard

05/05/2022 15:35

** Financial technology company's shares  CCRD.N  up ~11% at
$26.52 after Q1 revenue beats estimates 
    ** Co reports Q1 total revenue of $24.28 mln, up more than
170% year-over-year and above estimates of $18.77 mln -
Refinitiv data
    ** Profit rose to $8.67 mln, or $1 per share from $1.04 mln,
or 12 cents per share a year earlier 
    ** CoreCard also raises its FY2022 topline growth outlook by
five pct points at the mid-point of its previous forecast range
and now expects revenue to grow between 25%-30%
    ** Co made $2.3 mln worth of share buybacks in the past
quarter and extended buyback authorization for an additional $20
mln 
    ** YTD, stock down ~31% vs a ~7% decline in the NYSE
composite index  .NYA  

 (Reporting by Sohini Podder in Bengaluru)
 ((sohini.podder@thomsonreuters.com))