Magic Software: Q1 Earnings Insights

Shares of Magic Software MGIC rose 6.2% in pre-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share rose 35.71% year over year to $0.19, which beat the estimate of $0.15.

Revenue of $85,208,000 up by 18.67% from the same period last year, which beat the estimate of $81,780,000.

Looking Ahead

Earnings guidance hasn't been issued by the company for now.

Revenue guidance hasn't been issued by the company for now.

Details Of The Call

Date: May 26, 2020

Time: 10:00 AM

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

Recent Stock Performance

Company's 52-week high was at $11.53

52-week low: $6.31

Price action over last quarter: Up 21.02%

Company Overview

Magic Software Enterprises Ltd is a software development company. The company's operating segment includes Software Services and IT Professional Services. It generates maximum revenue from the IT Professional Services segment. IT Professional Services segment offers advanced and flexible IT services in the areas of infrastructure design and delivery, application development, technology planning and implementation services, communications services and solutions, as well as supplemental outsourcing services. Geographically, it derives a majority of revenue from the United States and also has a presence in Israel; Europe; Japan, and Other countries.