WATERLOO, Ont. — A slew of new customers and products delivered a 252 per cent increase in net income for OpenText Corp. in its latest quarter.
The Waterloo, Ont.-based tech company says its net income for its third quarter amounted to US$91.5 million, up from US$26 million at the same time last year.
The company, which keeps its books in U.S. dollars, says its earnings amounted to 33 cents per share on a diluted basis, up from 10 cents per share in the third quarter of last year.
Analysts on average had expected a profit of 29 cents per share for the period ended March 31, according to Refinitiv.
OpenText says its revenue for the quarter totalled US$833 million, up from US$815 million at the same time last year.
Johnson & Johnson, New Balance Athletic Shoe, Inc. and Royal Bank of Canada all became OpenText customers in the quarter, while it launched a new content service platform and other software offerings.
This report by The Canadian Press was first published May 6, 2021.
Companies in this story: (TSX:OTEX)
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