Magic Software Q3 Adj. EPS $0.21 Misses $0.27 Estimate, Sales $129.48M Miss $146.40M Estimate
Portfolio Pulse from Benzinga Newsdesk
Magic Software (NASDAQ:MGIC) reported Q3 adjusted EPS of $0.21, missing the $0.27 estimate, and sales of $129.48M, below the $146.40M estimate. This reflects a 25% decrease in earnings and a 10.06% decrease in sales compared to the same period last year.
November 14, 2023 | 12:49 pm
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NEGATIVE IMPACT
Magic Software's Q3 earnings and sales missed estimates, with a significant decrease compared to last year, indicating potential negative investor sentiment.
Magic Software's miss on both earnings and sales estimates, coupled with a year-over-year decline, is likely to be viewed negatively by investors. This could lead to a decrease in stock price in the short term as the market adjusts to the lower-than-expected performance.
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IMPORTANCE 90
RELEVANCE 100