Update: Open Text Shares Fall After Fiscal Q1 Adjusted Earnings, Revenue Decline

MT Newswires Live

Nov 01, 2024

(Updates with stock price movement in the headline and first paragraph)

Open Text (OTEX) shares were down over 10% in recent Thursday trading after the company reported a year-over-year drop in fiscal Q1 earnings and revenue.

The company reported fiscal Q1 adjusted earnings of $0.93 per diluted share, down from $1.01 a year earlier.

Analysts polled by Capital IQ expected $0.80.

Revenue for the quarter ended Sept. 30 was $1.27 billion, compared with $1.43 billion a year earlier.

Analysts surveyed by Capital IQ expected $1.28 billion.

Additionally, the company said it has retained its quarterly dividend at $0.2625 per share, payable Dec. 20 to shareholders of record as of Nov. 29.

Price: 30.28, Change: -3.51, Percent Change: -10.38

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