Shares of Guidewire Software Inc.
GWRE,
fell after hours on Thursday after the company, a cloud-software provider for the insurance industry, forecast full-year sales that were below Wall Street’s expectations. Guidewire said it expected fiscal year 2024 revenue of between $976 million and $986 million, compared with FactSet forecasts for $989.2 million. Shares fell 5.1% after hours. The company reported fiscal fourth-quarter net income of $12.2 million, or 15 cents a share, contrasting with a loss of $31 million, or 37 cents a share, in the same quarter last year. Revenue rose to $269.9 million from $244.6 million in the prior-year quarter. Adjusted for stock-based compensation, amortization, taxes and other items, Guidewire earned 74 cents a share. Analysts polled by FactSet expected adjusted earnings per share of 38 cents, on revenue of $261.4 million.
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