Recap: Open Text Q2 Earnings
Portfolio Pulse from Benzinga Insights
Open Text (NASDAQ:OTEX) reported Q2 earnings with an EPS of $1.24, beating estimates by 4.2% against an expected $1.19. Revenue increased to $637.56 million from the same period last year. The company has a history of surpassing EPS estimates, which previously led to a 5.34% share price increase the day after last quarter's earnings announcement.
February 01, 2024 | 9:15 pm
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Open Text reported a 4.2% beat on EPS estimates for Q2, with an EPS of $1.24 and a significant revenue increase to $637.56 million from the previous year.
Open Text's consistent performance in beating EPS estimates, coupled with a significant year-over-year revenue increase, suggests a positive outlook for the stock. Historical data indicates that beating EPS estimates has previously led to a share price increase, suggesting a potential short-term positive impact on OTEX's stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100