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Magic Software: Q4 Earnings Insights

Shares of Magic Software (NASDAQ:MGIC) rallied 10.27% to $8.21 after the company reported Q4 results. Quarterly Results Earnings per share were up 8.33% year over year to $0.13, which missed the estimate of $0.15.

Benzinga · 03/09/2020 16:01

Shares of Magic Software (NASDAQ:MGIC) rallied 10.27% to $8.21 after the company reported Q4 results.

Quarterly Results

Earnings per share were up 8.33% year over year to $0.13, which missed the estimate of $0.15.

Revenue of $90,927,000 up by 25.78% year over year, which beat the estimate of $83,970,000.

Outlook

Q1 revenue expected to be between $360,000,000 and $370,000,000.

Details Of The Call

Date: Nov 14, 2019

Time: 10:00 AM ET

Webcast URL: https://www.magicsoftware.com/investors/

Technicals

52-week high: $11.53

52-week low: $8.01

Price action over last quarter: Up 15.88%

Company Description

Magic Software Enterprises Ltd is a software development company. It provides application development and business process integration platforms, vertical software solutions and professional services to develop mobile and cloud-based business applications. In addition, it also provides IT outsourcing software services. Its software platforms consist of Magic xpa, AppBuilder, and Magic xpi. The company's segments consist of software solutions and IT professional services. Most of the revenues are derived from IT consulting services in the areas of infrastructure design and delivery, application development, technology planning and implementation services.