Magic Software Enterprises (NASDAQ: MGIC) second-quarter earnings report indicated that according to analysts’ expectations, the report was released on Wednesday and the company reported revenue that exceeded expectations.
Earnings per share reached $0.24 while revenue recorded $136.3M. Market surveys from Investing.com indicated that earnings per share were expected to reach $0.24 and the company’s earnings to $132.1M. Well and in terms of last quarter
Magic Software Enterprises lost 0.68% to trade at $10.26 intra-day, according to the report.
During the year, Magic Software Enterprises shares traded 5% higher, under the performance of the Nasdaq, which is up 14.06% this year.
Read also:Spotify updates its app in the EU with package pricing on Apple devices
Magic Software Enterprises stock follows other tech sector earnings this month
On Day 1, Apple announced during the third quarter with quarterly earnings per share of $1.4 on earnings of $85.8B, compared to an earnings per share forecast of $1.35 with a return of $84.45B.
Microsoft Group’s profit beat analysts’ expectations on the 30th, during the fourth quarter with quarterly earnings per share of $2.95 and earnings of about $64.7B. Investing.com analysts also forecast a profit of $2.94 and a return of $64.38B.
MGIC: Is this leading stock facing new challenges?
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