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Cybersecurity firm Verint Systems  (VRNT - Get Report)  was up more than 12% Thursday after earnings topped Wall Street expectations and the company raised guidance.

Verint reported adjusted profit of $1.08 per share on revenue of $336.7 million vs. analysts' expectations of earnings of $1.01 per share on revenue of $332.8 million. 

Additionally, the company said that it was raising its fiscal 2020 earnings guidance by 10 cents per share to $3.60. Revenue is now expected $25 million higher to $1.37 billion. 

"We believe our strong results and overachievement reflect the successful execution of the growth strategy that we implemented approximately two years ago. We learned about our customers' mounting business and security challenges, and we responded by accelerating our automation and cloud innovation," said CEO Dan Bodner. 

The company said it sees its cloud revenue growth accelerating over the next three years, targeting between 30% and 40% CAGR growth over the next three years. 

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