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Magic Software Enterprises Posts Higher Non-GAAP Earnings, Revenue in Q1

05/10/2021 05:23

09:13 AM EDT, 05/10/2021 (MT Newswires) -- Magic Software Enterprises (MGIC) reported Monday Q1 non-GAAP earnings of $0.21 per diluted share, up from $0.19 a year ago.

Analysts polled by Capital IQ forecast EPS of $0.20.

Non-GAAP Revenue for the quarter was $107.3 million, up from $85.2 million a year prior. Analysts had expected revenue of $102.2 million.

The company raised its 2021 revenue outlook to between $425 million and $435 million from a range of $420 million to $430 million previously.

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