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Formula Sys [1985] ADR Down 3.12% To $98.77 After Earnings

Wednesday, August 17, 2022 03:24 PM | InvestorsObserver Analysts

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Formula Sys [1985] ADR Down 3.12% To $98.77 After Earnings

Wednesday, August 17, 2022 - Formula Sys [1985] ADR (FORTY) reported upside earnings and revenues today.

Formula Sys [1985] ADR's earnings came in at an EPS of $2.12 per share. The firm's earnings are up 147% since reporting $0.86 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Revenues were upbeat at $644.6 million. That revenue figure is an increase of 9.65% from the year ago quarter.

The stock is down 3.12% to $98.77 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

InvestorsObserver gives the stock a Neutral Sentiment score at the moment based on recent trading.

Formula Sys [1985] ADR has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 0, putting Formula Sys [1985] ADR in the bottom 25% of stocks. The firm was recently trading at a 52-week low of $83.44 on June 13, 2022 and set a 52-week high on November 8, 2021 at $142.

Formula Systems (1985) Ltd is a holding company that, through its subsidiaries, provides information technology services. The company organizes itself into three primary segments based on the subsidiary. The Matrix segment, which generates the majority of revenue, provides software development and existing software expansion services. The Sapiens segment provides software development services for the insurance industry. The Magic Software segment provides vendor management systems and workforce management services, which include accounting and finance, human resources, IT technology, and marketing and sales. Michpal; ZAP Group and Others. The majority of the company's revenue comes from Israel.

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