WATERLOO, Ont. -- OpenText Corp. says it incurred a $65.5 million net loss in its latest quarter despite revenues climbing by more than 10 per cent when compared with a year ago.
The Waterloo-based tech company says the net loss in its second quarter was a 161 per cent drop from the $107.5 million net income it reported a year ago.
Revenue for the period ended Dec. 31 totalled $855.6 million, up from $771.6 million in the year prior.
The company's basic and diluted earnings per share in the quarter both amounted to a loss 24 cents per share, down from 40 cents per share a year ago.
Analysts on average had expected OpenText to report adjusted earnings per share of 85 cents per share and $814.5 million in revenue, according to financial data firm Refinitiv.
Work from home orders prompted by the COVID-19 pandemic have helped OpenText drum up interest in its cloud-based offerings and land clients like McCain Foods, Nestle, SaskPower and the City of San Diego.
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