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OpenText Corp. OTEX-T reported revenues for the most recent quarter were up 2.4 per cent year over year, with cloud revenues rising 12 per cent.

Net income for their second quarter ended Dec. 31 amounted to US$258.5-million, up 192.7 per cent, representing earnings of 96 cents US per diluted share, up from 32 cents a year earlier.

That net income figure included $172-million of pre-tax unrealized gains related to its acquisition of U.K. software giant Micro Focus.

The Waterloo, Ont.-based company says year-to-date revenues are up four per cent.

The company announced earlier this week it had closed its acquisition of Micro Focus for almost US$6-billion.

At the same time, it announced layoffs of around eight per cent of the workforce due to the acquisition.

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Tickers mentioned in this story

Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 12/04/24 4:00pm EDT.

SymbolName% changeLast
OTEX-T
Open Text Corp
-0.43%48.92

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