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OpenText reports mixed results following the acquisition of Micro Focus

By ET Bureau - February 03, 2023 1 Mins Read

OpenText reports mixed results following the acquisition of Micro Focus

OpenText Corp., a provider of enterprise software, reported mixed quarterly results following the completion of its acquisition of Micro Focus International plc. OpenText reported 89 cents per share in earnings before costs like stock compensation for the second quarter of its fiscal 2023, which is the same as the prior quarter.

Analysts anticipated USD 1.05 in earnings per share. While customer support revenue at OpenText decreased 18% to USD 316.5 million during the quarter, cloud services and subscriptions increased 12% year over year to USD 408.7 million.

The total annual recurring revenue increased by 3.6% to USD 725.2 million. Adjusted earnings before interest, taxes, depreciation, and amortization decreased by 3.3% to USD 645 million over the previous year.

Read More: OpenText reports mixed results as it completes purchase of Micro Focus

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