U.S. Markets closed

Guidewire Software tops Street 2Q forecasts

FOSTER CITY, Calif. (AP) _ Guidewire Software Inc. (GWRE) on Thursday reported fiscal second-quarter earnings of $4 million.

On a per-share basis, the Foster City, California-based company said it had net income of 5 cents. Earnings, adjusted for one-time gains and costs, were 28 cents per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 14 cents per share.

The provider of software to the insurance industry posted revenue of $115.6 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $108.7 million.

For the current quarter ending in May, Guidewire Software expects its results to range from a loss of 5 cents per share to a loss of 2 cents per share.

The company said it expects revenue in the range of $102 million to $106 million for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $111.2 million.

Guidewire Software expects full-year earnings in the range of 67 cents to 74 cents per share, with revenue ranging from $491 million to $499 million.

Guidewire Software shares have climbed 13 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $55.52, a rise of roughly 6 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GWRE at https://www.zacks.com/ap/GWRE


Keywords: Guidewire Software, Earnings Report