While net profit dipped to $298 million from $385 million a year ago, adjusted per-share earnings reached 90 cents, comfortably beating the 86-cent consensus forecast from FactSet analysts. This performance was largely fueled by an acceleration in on-premise subscription revenues, particularly within the public sector.

Following these results, the company raised the floor of its full-year subscription sales guidance to a range between $15.76 billion and $15.78 billion. Despite the positive momentum, the firm’s outlook for the third quarter remains conservative, with management projecting subscription revenue of $3.98 billion—falling short of the $4.01 billion estimate currently held by analysts.