OpenText Q2 2011: Profit rises, earnings slip, acquisitions to drive future global growth
Waterloo's OpenText posted its Q2 earnings and saw a 12 percent rise in quarterly adjusted profit but earnings that fell below analyst expectations, which triggered a dip in the share price.
The company generated net profit of $61.5 million on revenue of $285.5 million, up from $54.9 million on revenue of $283.9 million in the same quarter last year.
OpenText has also been an active acquirer lately, notably picking up Global 360 in July for $260 million and MetaStorm in February for $182 million. The Waterloo software firm says its acquisitions will foster global growth down the road.
