NEW YORK – Guidewire Software program Inc (NYSE:GWRE) reported better-than-expected first quarter outcomes on Thursday, however shares fell 4% in after-hours buying and selling as the corporate’s steering didn’t excite traders.
The property and casualty insurance coverage software program supplier posted adjusted earnings per share of $0.43, beating analyst estimates of $0.30. Income got here in at $262.9 million, surpassing expectations of $254 million and rising 27% YoY.
“We achieved or exceeded the excessive finish of our steering ranges for ARR, income, and profitability, pushed by 9 Q1 cloud offers, together with 5 at Tier-1 insurers,” mentioned Jeff Cooper, Chief Monetary Officer of Guidewire.
For the second quarter, Guidewire forecasts income between $282 million and $288 million, above the consensus of $279.3 million. The corporate additionally raised its full-year 2025 income outlook to $1.155-1.167 billion, up from analyst projections of $1.143 billion.
“We proceed to see nice momentum as P&C insurers look to Guidewire to ship the platform they belief to innovate and develop effectively,” mentioned Mike Rosenbaum, Chief Govt Officer.
Guidewire ended the quarter with $874 million in annual recurring income, up from $864 million on the finish of the earlier quarter.
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