Open Text Q2 Adj EPS $1.24 Beats $1.19 Estimate, Sales $1.53B Beat $1.50B Estimate
Portfolio Pulse from mahesh@benzinga.com
Open Text (OTEX) reported Q2 adjusted EPS of $1.24, surpassing the $1.19 estimate, marking a 39.33% increase from last year. Sales reached $1.53B, exceeding the $1.50B estimate, a 71.04% increase from the previous year.
February 01, 2024 | 9:10 pm
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POSITIVE IMPACT
Open Text reported a significant beat on both earnings and sales estimates for Q2, with a notable year-over-year growth in earnings and sales.
Beating earnings and sales estimates typically leads to positive investor sentiment and can drive the stock price up in the short term. The substantial year-over-year growth in both earnings and sales further strengthens the case for a positive impact on OTEX's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100