Guidewire Software stock drops as full-year outlook disappoints
Guidewire Software Inc. GWRE, -4.28% shares dropped in the extended session Wednesday after the insurance-industry software provider’s outlook for the year fell short of Wall Street consensus estimates. Guidewire shares fell 6% after hours, following a 4.3% decline to close the regular session at $96.93. Guidewire estimates adjusted earnings of 18 cents to 22 cents a share on revenue of $159 million to $163 million for the first quarter, and $1.15 to $1.26 a share on revenue of $740.5 million to $752.5 million for the year. Analysts surveyed by FactSet expect a per-share loss of 9 cents a share on revenue of $134.9 million for the first quarter, and $1.26 a share on revenue of $779.6 million for the year. The company reported fiscal fourth-quarter net income of $83.4 million, or $1.02 a share, compared with $26.9 million, or 36 cents a share, in the year-ago period. Adjusted earnings were 81 cents a share. Revenue rose to $248.6 million from $181.1 million in the year-ago period. Analysts had estimated 75 cents a share on revenue of $238.9 million.
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