U.S. Markets closed

Guidewire Guides Higher and Shares Respond Midday

Investing.com - Property and casualty insurance software company Guidewire jumped midday on strong earnings and guidance.

Guidewire (NYSE:GWRE) shares gained 9% following its results, issued after the bell Wednesday.

The company reported a profit of 34 cents per share and revenue of $169.3 million. That topped forecasts compiled by Investing.com for earnings of 19 cents per share and revenue of $159.75 million.

Looking ahead, Guidewire predicted a fiscal 2019 profit of $1.35 to $1.41 per share, up from previous guidance of $1.24 to $1.34 per share.

Full-year revenue is now seen at $725 million to $732 million, with the midpoint above the company’s earlier forecast and the range in line with S&P Capital IQ’s consensus estimate.

The iShares North American Tech-Software (NYSE:IGV) ETF was up about 0.2%, managing some gains amid the broader market selloff.

Related Articles

VW brand to cut up to 7,000 jobs in new savings drive

StanChart suffers Asia private banker exits, boosts Mideast staff: sources

India stocks higher at close of trade; Nifty 50 up 0.36%