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 Image of the Guidewire (GWRE) headquarters with the company's name on the front of the building](https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif)
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.