The Waterloo, Ont.-based company, which develops and sells enterprise management software, reported record second-quarter revenue of US$876.8 million, up 2.7 per cent compared to the same period last year. It also raised its 2022 fiscal guidance and said it expects total annual revenue to grow “mid-to-high single-digits.” Its shares were down just over 3.6 per cent at Friday’s close. (The Logic)
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The Waterloo, Ont.-based company, which develops and sells enterprise management software, reported record second-quarter revenue of US$876.8 million, up 2.7 per cent compared to the same period last year. It also raised its 2022 fiscal guidance and said it expects total annual revenue to grow “mid-to-high single-digits.” Its shares were down just over 3.6 per cent at Friday’s close. (The Logic)
Talking point: “We believe our outlook heading into [the calendar year] is vastly more positive than the previous two years,” OpenText CEO Mark Barrenechea said in an earnings call Thursday. The company also announced that its enterprise productivity suite will be available on Google Cloud, deepening an existing partnership. The firm recently went through a leadership shuffle, hiring or promoting executives Sandy Ono, Michael Acedo and Doug Parker; its chief legal officer Gordon Davie announced he will retire in September.
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