Open Text (OTEX) Misses Q1 EPS by 1c

Open Text (NASDAQ: OTEX) reported Q1 EPS of $0.86, $0.01 worse than the analyst estimate of $0.87. Revenue for the quarter came in at $492 million versus the consensus estimate of $496.87 million.

"OpenText delivered nearly half a billion dollars in quarterly revenues, double digit cloud and license performance, our fastest start to a fiscal year in the company's history. We expect Fiscal 2017 to be a transformative year for OpenText as we strengthen our product offerings with innovation and acquisitions," said OpenText CEO and CTO, Mark J. Barrenechea. "Our customers are responding well to our digital transformation products and we expect this to translate into double digit revenue growth for the entire year. Within the quarter, we achieved significant milestones with the closing of multiple acquisitions and expect to complete their integrations and improve operations by the end of the fiscal year."

For earnings history and earnings-related data on Open Text (OTEX) click here.

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