Guidewire Software, Inc. (NYSE:GWRE) reported better-than-expected fourth-quarter financial results on Thursday.
Total revenue rose 8% Y/Y to $291.5 million, beating the consensus of $283.9 million. Subscription and support revenue increased by 29% Y/Y to $151.8 million, while license revenue decreased by 12% Y/Y to $88.9 million. Also, Services revenue fell by 2% to $50.8 million in the quarter.
Adjusted income from operations increased to $49.0 million from $44.7 million a year ago quarter. Adjusted EPS of 62 cents exceeded the consensus of 54 cents.
Mike Rosenbaum, chief executive officer, said, "We enter the new fiscal year positioned well to continue accelerating modernization ...
