photo InternetUA
The British software manufacturer Micro Focus International summarized the results of the year. The company's revenues were below market expectations, which adversely affected the value of shares.
The 12-month period ended April 30, 2017, Micro Focus revenue was $ 1.38 billion, down 1% from a year earlier. This fits into the company's own forecast, but lower than predicted by analysts, notes The Financial Times.
Micro Focus's annual profit before taxes fell by 29%, to $ 196 million. After the publication of financial results, the vendor's quotes fell by 6%. Since May 2017, when the company reported a 10% drop in revenue from HP's software division, Micro Focus lost a fifth of its value.
Micro Focus, which helps companies update the IT infrastructure without replacing older systems, announced the purchase of the HPE software business in September 2016. The transaction value is $ 8.8 billion. About $ 2.5 billion will be paid in cash, and the remainder - shares of the combined company. Micro Focus hopes to fulfill all the formalities relating to the acquisition, by September 1, 2017.