What happened

Shares of SS&C Technologies (NASDAQ:SSNC) are down 16.2% as of 12 p.m. EDT Tuesday after the financial services software company announced strong second-quarter 2019 results, but followed by lowering its full-year 2019 outlook.

On the former, SS&C's adjusted quarterly revenue grew 27.2% year over year to $1.156 billion, translating to a nearly 50% increase in adjusted earnings per share to $0.91. Both the top and bottom lines were near the midpoints of SS&C's guidance ranges, which called for revenue of $1.138 billion to $1.168 billion and adjusted earnings of $0.87 to $0.94.

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So what

SS&C CEO Bill stone said he was "pleased" with the company's profitable revenue growth this quarter, highlighting growth opportunities for SS&C Health and "significant wins" from SS&C Asset Management Solutions (previously known as DST) and SS&C Advent.

But during the subsequent earnings conference call, Stone added that industry headwinds -- namely lower trading volumes and slowing M&A activity -- are negatively impacting its acquired businesses and core financial services offerings.

Now what

For the third quarter, SS&C expects revenue of $1.123 billion to $1.153 billion, with adjusted net income per share of approximately $0.85 to $0.91. For the full year, SS&C sees revenue of $4.571 billion to $4.631 billion (down from $4.675 billion to $4.765 billion before), and adjusted net income of $947.5 million to $988.5 million (reduced from $993 million to $1.042 billion previously).

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