Guidewire Software Earnings: Here’s Why the Stock is Up Now
Guidewire Software Inc (NYSE:GWRE) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 10.76%.
Guidewire Software Inc Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 60% to $0.04 in the quarter versus EPS of $0.10 in the year-earlier quarter.
Revenue: Rose 19.82% to $68.3 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: reported adjusted EPS income of $0.04 per share. By that measure, the company beat the mean analyst estimate of $0.03. It beat the average revenue estimate of $63.58 million.
Quoting Management: “Revenue and profitability were ahead of our expectations in the third quarter, and rolling four quarter recurring term license and maintenance revenue grew by 34% from a year ago. In addition to strong financial results, our momentum continued with PolicyCenter and full InsuranceSuite sales, international expansion and customer go lives,” said Marcus Ryu, Chief Executive Officer of Guidewire Software. “We believe that we are in the early stage of our market opportunity, and we continue to invest in expanding our product capabilities and global reach to advance our leadership position.”
Key Stats (on next page)…