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Magic ( (MGIC) ) has issued an announcement.
On March 11, 2025, Magic Software Enterprises Ltd. reported its financial results for the fourth quarter and full year ending December 31, 2024. The company experienced a 13.6% increase in revenues for the fourth quarter, reaching $142.6 million, and a 28.6% rise in operating income to $16.7 million. For the full year, revenues grew by 3.3% to $552.5 million, with operating income increasing by 7.2% to $61.2 million. Despite a slight decrease in net income for the year, the company declared a semi-annual cash dividend, reflecting 75% of its distributable profits. Magic Software also introduced revenue guidance for 2025, projecting growth between 7.3% and 9.1%.
More about Magic
Magic Software Enterprises Ltd. is a global provider of IT consulting services and end-to-end integration and application development platform solutions. The company focuses on delivering comprehensive software solutions to enhance business operations across various industries.
YTD Price Performance: 8.07%
Average Trading Volume: 45,660
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $630.9M
See more insights into MGIC stock on TipRanks’ Stock Analysis page.