Guidewire Software 3Q Loss Widens on Higher Expenses
Guidewire Software Inc. said Tuesday that despite increased revenue its third-quarter profit fell on rising operating expenses.
The company, which provides a software platform for the insurance industry, said its loss widened to $57.4 million, or 69 cents a share, for the quarter that ended April 30, compared to a loss of $36.6 million, or 44 cents a share, a year ago.
On an adjusted basis, Guidewire had a loss of $21.8 million, or 26 cents a share, wider than the loss of $13.2 million, or 16 cents a share, in the prior-year period. Analysts polled by FactSet expected an