Wall Street’s consensus estimate is for net earnings of $1.52 per share for Q4, which is lower than the $0.78/share profit the company reported for the prior-year quarter. The weak bottom-line forecast reflects an estimated 9% fall in revenues to $1.77 billion.
In the third quarter of 2024, the company’s net revenue was $1.94 billion, compared to $1.88 billion in the same period last year. Q3 net income increased to $290 million or $1.07 per share from $204 million or $0.73 per share in the year-ago quarter. Net bookings rose 1% year-over-year to $2.36 billion in the December quarter.