Magic Software Enterprises Q1 2023 Earnings Report

Magic Software Enterprises EPS Results

• Actual EPS: $0.26
• Consensus EPS: $0.28
• Beat/Miss: Missed by -$0.02
• One Year Ago EPS: N/A

Magic Software Enterprises Revenue Results

• Actual Revenue: $142.44 million
• Expected Revenue: $143.40 million
• Beat/Miss: Missed by -$960.00 thousand
• YoY Revenue Growth: N/A

Magic Software Enterprises Announcement Details

• Quarter: Q1 2023
• Date: 5/18/2023
• Time: N/A

Magic Software Enterprises (NASDAQ:MGIC) provides proprietary application development, vertical software solutions, business process integration, information technologies (IT) outsourcing software services, and cloud-based services in Israel and internationally. Its Software Services segment develops, markets, sells, and supports application platform, software applications, and business and process integration solutions and related services. The company's IT Professional Services segment offers IT services in the areas of infrastructure design and delivery, application development, technology planning and implementation services, communications services and solutions, and supplemental outsourcing services. It also offers proprietary application platforms, such as Magic xpa for developing and deploying business applications; AppBuilder for building, deploying, and maintaining business applications; Magic xpi for application integration; Magic xpi cloud native; FactoryEye for virtualization of production data; Magic Data Management and Analytics Platform for data management; and Magic SmartUX for cross-platform mobile business applications. The company also provides vertical software solutions comprising Clicks, a software solution for healthcare providers; Leap, a software solution for business support systems; Hermes Cargo, a packaged software solution for managing air cargo ground handling; HR Pulse, a single-tenant software as a service tool; MBS Solution, a system for managing TV broadcast management; Nativ, a system for management of rehabilitation centers; and Mobisale, a system for sales and distribution field activities for consumer goods manufacturers and wholesalers. In addition, It provides software maintenance, support, training, and consulting services. The company was formerly known as Mashov Software Export (1983) Ltd. and changed its name to Magic Software Enterprises Ltd. in 1991. The company was incorporated in 1983 and is headquartered in Or Yehuda, Israel.