Open Text Posts $1.05 Non-GAAP EPS, Beating Estimate by 12 Cents

Open Text Corporation (OTEX) posted first-quarter non-GAAP earnings per share of $1.05, beating the estimate by $0.12. Revenue was $1.24 billion, in line with expectations and down 3.9% from a year earlier.

Core revenue increased 2.4% year over year to $864 million. Core cloud revenue rose 11.2% to $339 million.

Cloud revenue totaled $505 million, up 4.3% from a year earlier. The company recorded 23 consecutive quarters of organic cloud growth.