WATERLOO, ONT. – Open Text Corp. says it earned US$230 million in its latest quarter, up from US$38 million in the same quarter last year.
The software company says its second quarter of fiscal 2025 also saw total revenue of US$1.34 billion, down from US$1.54 billion a year earlier.
The company says cloud revenues, a key priority, rose about three per cent to US$462 million in the quarter.
It says it has operating cash flows of US$348 million and free cash flows of US$307 million.
Earnings worked out to $0.87 per diluted share, up from $0.14 per share last year.
Analysts expected earnings of $0.92 per share, according to financial markets data firm LSEG Data & Analytics.
This report by The Canadian Press was first published Feb. 6, 2025.
Companies in this story: (TSX:OTEX)
