Open Text Shares Jumped: What You Need to Know (OTEX)

Open Text Shares Jumped: What You Need to Know

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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Open Text (Nasdaq: OTEX ) opened much higher today before rallying upwards of 19% after reporting second-quarter earnings last night.

So what: Revenue rose 20% to $321.5 million, with earnings per share of $1.39. Both top and bottom lines handily toppled the consensus estimates of $312.15 million in sales and $1.23 per share in profit.

Now what: Over half of revenue came from the Americas, while 40% was from Europe, Middle East, and Africa. The company recently appointed Mark Barrenechea as new CEO a month ago, as his predecessor John Shackleton retired. Licensing revenue in the quarter rose 13% to $89.7 million, while services, technology, and financial services saw the most demand.

Interested in more info on Open Text? Add it to your Watchlist by clicking here.

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Fool contributor Evan Niu holds no position in any company mentioned. Click here to see his holdings and a short bio. The Motley Fool owns shares of Open Text. Motley Fool newsletter services have recommended buying shares of Open Text. Motley Fool newsletter services have recommended writing puts in Open Text. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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