Envestnet, Inc. ENV reported better-than-expected third-quarter 2022 results, wherein both earnings and revenues surged year over year.Adjusted earnings (excluding 58 cents from non-recurring items) per share of 45 cents outpaced the Zacks Consensus Estimate by 7.1% but declined 26.2% year over year. The reported figure lies above the guided range of 40-42 cents.Adjusted revenues of $306.7 million also beat the consensus mark by 1.3% and climbed 1.2% year over year. The reported figure lies above the guided range of $301.5-$303.5 million.Envestnet, Inc Price, Consensus and EPS Surprise Envestnet, Inc price-consensus-eps-surprise-chart | Envestnet, Inc QuoteQuarterly Numbers in DetailAsset-based recurring revenues of $177.13 million decreased 3.7% year over year, contributing 58% to total revenues. Subscription-based recurring revenues of $123.7 million were up 8.9% from the prior-year quarter’s level, contributing 40.3% to total revenues. Professional services and other non-recurring revenues increased 6.3% year over year to $5.8 million.Adjusted EBITDA came in at $53.5 million, down 19% year over year.Envestnet ended third-quarter 2022 with a cash and cash equivalent balance of $241.3 million compared with $338 million at the end of the prior quarter. Long-term debt was $509 million compared with $508.3 million at the end of the prior quarter.ENV generated $33.6 million cash from operating activities. CapEx was $3.97 million.OutlookFor fourth-quarter 2022, Envestnet expects adjusted earnings per share between 42 cents and 43 cents (prior view: 40-42 cents). The current Zacks Consensus Estimate meets the lower end of the guided range of 42 cents.For the fourth quarter of 2022, total revenues are estimated between $294 million and $296 million (prior view: $301.5 million and $303.5 million). Envestnet expects adjusted EBITDA in the band of $52-$54 million (prior view: $51-$53 million).For 2022, Envestnet now expects adjusted EPS between $1.82 and $1.84 compared with the prior-guided range of $1.84-$1.89. The updated projection lies below the current Zacks Consensus Estimate of $1.86. Total revenues are now anticipated between $1.241 billion and $1.243 billion compared with the prior-guided range of $1.255-$1.260 billion. For 2022, ENV now projects adjusted EBITDA of $218-$220 million compared with the prior-guided range of $223-$227 million.Currently, Envestnet carries a Zacks Rank #5 (Strong Sell).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Recent ReleasesOmnicom Group Inc. OMC reported impressive third-quarter 2022 results, wherein earnings and revenues surpassed the Zacks Consensus Estimate.Earnings of $1.77 per share beat the consensus mark by 7.9% and increased 7.3% year over year, driven by a solid margin performance. Total revenues of $3.4 billion surpassed the consensus estimate by 3% and increased slightly year over year.Equifax Inc. EFX reported stellar third-quarter 2022 results, wherein both earnings and revenues surpassed the respective Zacks Consensus Estimate.Adjusted earnings (excluding 39 cents from non-recurring items) of $1.73 per share beat the Zacks Consensus Estimate by 5.5% but decreased 6.5% on a year-over-year basis. However, revenues of $1.24 billion beat the consensus estimate by 2.3% and improved 1.8% year over year on a reported basis and 4% on a local-currency basis. The Interpublic Group of Companies, Inc. IPG reported better-than-expected third-quarter 2022 results.Adjusted earnings (excluding a penny from non-recurring items) of 63 cents per share beat the Zacks Consensus Estimate by 6.8%. The bottom line has been stable over the past year. Net revenues of $2.3 billion beat the consensus estimate by 0.3% but declined 9.7% on a year-over-year basis. Total revenues of $2.64 billion increased 3.8% year over year. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Omnicom Group Inc. (OMC): Free Stock Analysis Report Interpublic Group of Companies, Inc. The (IPG): Free Stock Analysis Report Equifax, Inc. (EFX): Free Stock Analysis Report Envestnet, Inc (ENV): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research