Recap: Magic Software Q2 Earnings

Shares of Magic Software MGIC rose 2.5% in pre-market tradinafter the company reported Q2 results.

Quarterly Results

Earnings per share increased 21.43% year over year to $0.17, which beat the estimate of $0.15.

Revenue of $86,521,000 up by 12.28% from the same period last year, which beat the estimate of $83,960,000.

Guidance

The upcoming fiscal year's revenue expected to be between $350,000,000 and $360,000,000.

How To Listen To The Conference Call

Date: Aug 13, 2020

Time: 10:00 AM

ET Webcast URL: https://www.magicsoftware.com/investors/quarterly-results/

Technicals

52-week high: $13.83

Company's 52-week low was at $6.31

Price action over last quarter: Up 29.17%

Company Profile

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.