Why Shares of Guidewire Software Are Surging Today

Shares of Guidewire Software (NYSE: GWRE) jumped on Friday after the software provider to the property and casualty insurance industry reported its fiscal fourth-quarter results. Guidewire beat analyst estimates across the board, which was enough to overcome weak guidance. The stock was up about 17.3% at 12 p.m. EDT.

Guidewire reported fourth-quarter revenue of $207.9 million, down 13% year over year but more than $3 million above the average analyst estimate. License and subscription revenue was down 11% to $127.7 million; services revenue was down 23% to $58.3 million; and maintenance revenue was up 6% to $21.8 million.

Image source: Getty Images.

Continue reading

Source Fool.com