MGIC has been in the news 667% more than usual
Aug 14, 2024, 8:32 PM
11.39%
What does MGIC do
Magic Software Enterprises Ltd. provides application development platforms, vertical software solutions, and IT outsourcing services, operating through two segments: software solutions and IT professional services. Its products include Magic xpa, AppBuilder, and Magic xpi platforms, alongside vertical packages like Leap and Hermes Solution.
MGIC has been in the news recently: Magic Software Enterprises Ltd. (NASDAQ:MGIC) experienced a 1.0% revenue decline to $136.3 million and a 20.0% drop in net income to $9.0 million for Q2 2024. Despite this, the company's Q2 revenue exceeded expectations by $4.2 million, and it anticipates full-year revenue between $540 million and $550 million.
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