India, April 29 -- Tyler Technologies (TYL) on Wednesday reported a slight increase in first-quarter profit, despite 8% growth in revenues driven by robust recurring and SaaS revenue growth.
Total revenue rose 8.6% to $613.5 million from $565.2 million. Recurring revenue climbed 10.4% to $538.6 million, accounting for nearly 88% of total revenue. Subscription revenue increased 14.6%, with SaaS revenue jumping 23.5% to $222.4 million.
Net income was $81.2 million or $1.88 per share, compared to $81.1 million or $1.84 per share.
Adjusted earnings were $3.09 per share, compared to $2.78 per share last year.
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"Our first quarter results exceeded expectations...