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MFGP - Why Micro Focus International Stock Got Crushed Today
Micro Focus Intl PLC ADS each representing One Ord Sh
Shares of U.K.-based technology company Micro Focus International(NYSE: MFGP) got crushed on Tuesday morning after it provided interim results for the six-month period that ended April 30. Investors didn't like what they saw. As of 12:25 p.m. EDT, the stock was down 18.5%.
During the first two quarters of its fiscal 2020, the software and information technology company's revenue declined 11% from the comparable period of the prior fiscal year. The company divides its revenue into four segments, and all four lost ground, including its "software-as-a-service and other recurring revenue" segment.