Guidewire Software Results Top Estimate; Stock Up - Quick Facts

(RTTNews) - Guidewire Software Inc (GWRE), a provider of software for the insurance industry, Tuesday reported a better-than-expected increase in fourth-quarter profit, helped by a 22% increase in revenue. Following the results, the company's stock gained 10 percent in after-hours trade.

CEO Marcus Ryu said the company benefited from new licenses, full suite sales and expanded relationships with existing customers across newer products.

Guidewire posted fourth-quarter net earnings of $19.8 million or $0.28 per share compared with $13.8 million or $0.22 per share last year.

Excluding items, adjusted earnings for the quarter were $0.37 per share compared with $0.27 per share a year ago.

Revenues for the quarter were $118 million compared with $97 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.28 per share on revenues of $112.66 million for the quarter. Analysts' estimates typically exclude special items.

Guidewire stock surged 10.24% at $50.51 in after-hours trade on the New York Stock Exchange.