BR: Recurring revenue grew 11%; FY'27 guidance reaffirmed, with $311M returned to shareholders

What happened

Recurring revenue grew 11% in constant currency in Q1'27. Adjusted EPS rose 3% to $1.56 and GAAP diluted EPS was $0.83. The company reaffirmed FY'27 guidance of 6–8% recurring revenue growth and 8–12% Adjusted EPS growth, and $311M was returned to shareholders.

Confirmed

Global impact / market context

Recurring revenue, which means repeatable income such as subscriptions and fees, makes up a large share of results and grew faster than the full-year target of 6–8%. That suggests the business started the year ahead of the pace needed for its guidance.

Confirmed

Returning $311M to shareholders signals the company generates more cash than it needs for operations and investments. Reaffirmed guidance indicates management sees no major change in demand, while the 3% Adjusted EPS rise suggests costs are growing faster than the recurring revenue line.

Analyst inference

What to watch

1. Whether recurring revenue keeps growing at 11% in constant currency, which excludes currency swings, or slows toward the 6–8% full-year target as the year progresses. Confirmed
2. Watch for any update to FY'27 guidance; if management raises or cuts the 6–8% recurring revenue or 8–12% Adjusted EPS ranges, that would show a changed outlook. Proposed
3. Track the gap between 11% recurring revenue growth and 3% Adjusted EPS growth, because it points to rising costs or lower profit per sale that could limit future earnings growth. Analyst inference

Evidence

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