Guidewire Software plunged more than -6% Wednesday, after posting weaker-than-expected fiscal fourth-quarter guidance.
For the latest quarter, the software company reported adjusted earnings of 18 cents per share, beating Wall Street consensus estimates of 8 cents per share. Its revenue of $162.9 million, also came in higher than analysts’ estimates of $155.2 million.
However, the company’s fiscal fourth quarter outlook turned out to be much lower than what analysts’ expected. Its guidance came in at 47 cents earnings per share on a revenue range of $199 million to $207 million, below forecasts of 61 cents per share on revenue $226.4 million.