Open Text Corp reports results for the quarter ended March 31 - Earnings Summary

• Open Text Corp OTEX.TO reported quarterly adjusted earnings of 82 cents​​ per share for the quarter ended March 31, lower than the same quarter last year, when the company reported EPS of 94 cents. The mean expectation of eleven analysts for the quarter was for earnings of 76 cents per share. Wall Street expected results to range from 65 cents to 88 cents per share.

• Revenue fell 13.3% to $1.25 billion from a year ago; analysts expected $1.28 billion.

• Open Text Corp's reported EPS for the quarter was 35 cents​.

• The company reported quarterly net income of $92.81 million.

• Open Text Corp shares had risen by 7.6% this quarter and lost 4.1% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 12% in the last three months.​

• In the last 30 days, two analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy," 10 "hold" and no "sell" or "strong sell." The average consensus recommendation for the software peer group is also "hold"

• Wall Street's median 12-month price target for Open Text Corp is $32.00

This summary was machine generated from LSEG data April 30 at 09:00 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)