Guidewire Software Earnings: GWRE Stock Soars 6% on Q4 Beats

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Guidewire Software (NYSE:GWRE) earnings for the software company’s fiscal fourth quarter of 2020 have GWRE stock heading higher after-hours Wednesday. This comes after reporting adjusted earnings per share of 83 cents, which easily beats out Wall Street’s estimate of 45 cents. Its revenue of $243.67 million also comes in above analysts’ estimate of $208.94 million.

Image of the Guidewire (GWRE) headquarters with the company's name on the front of the building

Source: Tada Images / Shutterstock.com

Let’s take a deeper dive into the most recent Guidewire Software earnings report below.

  • Adjusted per-share earnings are up 48.2% from 56 cents during the same time last year.
  • Revenue for the quarter comes in 17% higher than the $207.86 million from the fourth quarter of 2019.
  • Operating income of $44.34 million is a 110.3% increase year-over-year from $21.08 million.
  • The Guidewire Software earnings report also has net income coming in at $38.78 million.
  • That’s a 68.5% boost over the company’s net income of $23.01 million in the same period of the year prior.

Mike Rosenbaum, CEO of Guidewire Software, said this about the earnings results.

“We had a strong fourth quarter, adding 10 InsuranceSuite Cloud customers and growing subscription revenue for the year by 84%. Additionally, we launched Aspen, our first cloud-optimized release of InsuranceSuite, taking a major leap forward in our mission to provide the cloud platform that enables P&C insurers around the world to engage, innovate and grow efficiently.”

Guidewire Software includes guidance for fiscal 2021 in its earnings report. It’s expecting revenue for the year to range from $723 million and $733 million. For comparison, Wall Street is expecting revenue of $771.57 million for the fiscal year.

GWRE stock was up 6.4% after-hours Wednesday and ended normal trading hours up almost 1%.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.


Article printed from InvestorPlace Media, https://investorplace.com/2020/09/guidewire-software-earnings-boost-gwre-stock/.

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