Magic Software reported Q4 revenue of $125.5M, down 14.7% YoY, but exceeded consensus estimates, with increased cash flow from operating activities and optimistic CEO Guy Bernstein.
Magic Software (NASDAQ: MGIC) reported Q4 revenue of $125.5M, down 14.7% YoY, exceeding consensus estimate of $117.5M. Adjusted EPS of $0.24 also surpassed consensus of $0.19. Cash and equivalents stood at $107.1M, while cash flow from operating activities increased to $77.9M from $56.6M in the previous year. Despite the revenue decline, CEO Guy Bernstein expressed optimism about the company's future prospects.
March 13, 2024
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