Magic Software (MGIC) has released an update.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Magic Software Reports a Decline in Q1 2024 Financials, with revenues dropping 8.2% to $130.7 million and net income down by 13.0% to $8.8 million, compared to the same period last year. The company attributes the decrease to a significant drop in demand from key U.S. clients and higher interest expenses. Despite these setbacks, Magic Software reaffirms its 2024 revenue guidance of $540-550 million and declares a dividend payout of 20.4 cents per share.
For further insights into MGIC stock, check out TipRanks’ Stock Analysis page.
