WATERLOO, Ontario (AP) _ Open Text Corp. (OTEX) on Thursday reported fiscal second-quarter profit of $107.5 million.
The Waterloo, Ontario-based company said it had net income of 40 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, were 84 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 78 cents per share.
The software provider posted revenue of $771.6 million in the period.
Open Text shares have climbed slightly more than 5% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $46.39, an increase of 32% 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
Automated Insights, source Associated Press News
