Record-Breaking Revenue and Growth
SS&C Technologies Holdings reported record adjusted revenue of $1.531 billion, representing an 8.4% increase. Adjusted diluted earnings per share reached $1.58, up 25.4%, and adjusted consolidated EBITDA was $599.1 million, up 6.5%.
Strong Performance in Key Segments
The company experienced strong growth in global operations, wealth and investment technology, and global investor distribution services. Wealth and Investment Technologies grew 6.8% for the quarter, and GlobeOp saw many new business wins contributing to 8% organic growth.
Successful Strategic Initiatives
SS&C entered into a strategic agreement with Insignia Financial to deliver superannuation member administrative services in Australia, with significant future potential given their 5% market share.
Share Repurchases and Cash Flow
The company bought back 4.9 million shares for $365 million, and cash from operating activities was $486.6 million, up 25.3% from the previous year.
Improved Financial Metrics
The adjusted non-GAAP effective tax rate was revised to 23.1%, increasing reported adjusted EPS by approximately $0.21.