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Open Text: Fiscal 2Q Earnings Snapshot

WATERLOO, Ontario (AP) _ Open Text Corp. (OTEX) on Thursday reported fiscal second-quarter net income of $104.4 million.

On a per-share basis, the Waterloo, Ontario-based company said it had profit of 39 cents. Earnings, adjusted for non-recurring costs and stock option expense, were 80 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 70 cents per share.

The software provider posted revenue of $735.2 million in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $744.8 million.

Open Text shares have increased slightly more than 9 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $35.65, a rise of 4 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 OTEX at https://www.zacks.com/ap/OTEX