Open Text (OTEX) Q4 Earnings and Revenues Miss Estimates

Core Viewpoint - Open Text (OTEX) reported quarterly earnings of $0.98 per share, missing the Zacks Consensus Estimate of$1.05 per share, representing an earnings surprise of -6.67% [1][2] Financial Performance - The company posted revenues of $1.36 billion for the quarter ended June 2024, missing the Zacks Consensus Estimate by 3.23$1.49 billion year-over-year [2] - Over the last four quarters, Open Text has surpassed consensus EPS estimates two times and topped consensus revenue estimates three times [2] Stock Performance - Open Text shares have lost about 25% since the beginning of the year, while the S&P 500 has gained 15.8% [3] - The current consensus EPS estimate for the coming quarter is $0.86 on revenues of$1.29 billion, and for the current fiscal year, it is $3.65 on revenues of$5.4 billion [7] Industry Outlook - The Computer - Software industry is currently in the bottom 39% of over 250 Zacks industries, indicating potential challenges for stock performance [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact Open Text's stock performance [5][6]