Update: Open Text Shares Fall After Fiscal Q1 Adjusted Earnings, Revenue Decline-February 2024-www.financetom.com

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

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

Nov 3, 2024 3:54 PM

12:34 PM EDT, 10/31/2024 (MT Newswires) -- (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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