Team reports Q3 EPS ($2.52) vs ($2.78) last year

Revenue up 10% to $1.2 billion, driven by growth in all business segments

EPS misses estimates, but revenue beats expectations

Team reported third-quarter earnings per share (EPS) of $2.52, missing analysts' estimates of $2.78. Revenue for the quarter was $1.2 billion, up 10% year-over-year, and beating expectations of $1.18 billion.

The company's revenue growth was driven by strong demand for its products and services in all business segments. The Software and Services segment grew 12% to $720 million, the Hardware segment grew 10% to $300 million, and the Other segment grew 15% to $180 million.

Despite the revenue beat, the company's EPS missed estimates due to higher-than-expected expenses. Operating expenses increased 15% to $600 million, driven by increased spending on research and development, sales and marketing, and general and administrative expenses.

Looking ahead, Team expects fourth-quarter revenue to be in the range of $1.25 billion to $1.30 billion, and EPS to be in the range of $2.60 to $2.80. The company also announced a $1 billion share repurchase program.

Analysts remain bullish on Team's long-term prospects, citing the company's strong market position, recurring revenue model, and continued investment in innovation.