October 31, 2012 / 8:23 PM / 5 years ago

Open Text profit beats estimates on cloud services

(Reuters) - Canadian business software company Open Text Corp's OTC.TO OTEX.O adjusted quarterly profit handily beat estimates, helped by strength in its cloud services business.

But net income fell to $19.4 million, or 33 cents per share, in the first quarter, from $35 million, or 60 cents per share, a year earlier.

The company, whose partners include Microsoft Corp (MSFT.O) and Oracle Corp ORCL.O, earned $1.31 per share on an adjusted basis.

Revenue rose 13 percent to $326.2 million.

Analysts on average had expected a profit of $1.17 per share on revenue of $334.3 million, according to Thomson Reuters I/B/E/S.

Reporting by Ankur Banerjee in Bangalore; Editing by Saumyadeb Chakrabarty

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below