Roper Technologies raises annual profit forecast on AI software demand

July 23 (Reuters) - Roper ‌Technologies raised ​its ​full-year adjusted profit forecast and revenue growth outlook on Thursday, betting on ‌strong demand for its AI-integrated software products.

Shares ⁠of the Sarasota, Florida-based company rose 4.2% in premarket ‌trading. They have fallen ‌about 24% this year.

Here are some details:

• Roper, which makes management and networking softwares ​for sectors such as healthcare, transportation and education, has benefited as businesses turned to ⁠AI to automate routine and administrative tasks.

• CEO Neil Hunn ​said the company launched multiple AI-enabled products during the quarter, expanding its addressable ​markets.

• The company raised its ‌full-year adjusted profit per share forecast to between $22.15 and $22.30, up from its ⁠prior expectations of $21.80 to $22.05.

• Roper also increased its full-year total revenue growth outlook to more than ⁠8%, in line with analysts' average estimate of 8.1%, ​according to the data compiled by LSEG.

• Second-quarter revenue of $2.11 billion beat estimates of $2.10 billion.

• Adjusted EPS of $5.38 ‌also exceeded estimates of $5.28.

• Roper expects third-quarter adjusted EPS of $5.75 to $5.80, above ‌analysts' estimate of $5.66.

• Roper has expanded through ⁠acquisitions, deploying nearly $9 ‌billion on deals ​over the past three years.

(Reporting by Anzar Mehraj in Bengaluru; Editing by Sahal ‌Muhammed)

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