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Open Text revenue misses estimates

Wednesday, 30 Oct 2013 | 4:35 PM ET

Oct 30 (Reuters) - Business software company Open Text Corp's revenue missed market estimates as revenue from its cloud services business fell 5 percent.

First-quarter net income rose to $30.63 million, or 52 cents per share, in the quarter ended Sept. 30, from $19.4 million, or 33 cents per share, a year earlier.

The company, whose customers include Microsoft Corp and Oracle Corp, earned $1.37 on an adjusted basis.

Revenue fell less than 1 percent to $324.5 million. Revenue from cloud services fell to $41.6 million.

Analysts on average had expected a profit of $1.30 per share on a revenue of $334.03 million, according to Thomson Reuters I/B/E/S.

(Reporting By Sneha Banerjee in Bangalore; Editing by Don Sebastian)

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