Magic Software Ups Annual Revenue Outlook, Declares Semi-Annual Dividend; Stock Up Over 7%

(RTTNews) - Magic Software Enterprises Ltd. (MGIC), an Israeli software company, on Wednesday revised up its full-year revenue guidance, citing sustained operational momentum and a favorable outlook for the second half.

For fiscal 2025, the company now expects revenue of $600 million to $610 million, compared with the earlier guidance of $593 million to $603 million.

This revised guidance reflects a revenue growth of around 8.6% to 10.4% from the prior year.

In addition, the Board will pay a semi-annual cash dividend of 29.6 cents per share on October 22 to shareholders of record as of October 6.

On Wednesday, for the first half, the company recorded a net profit of $19.4 million, or $0.40 per share, higher than $17.8 million, or $0.36 per share, in the same period last year. Revenue was $299 million, up from the previous year's $267 million.

MGIC was up by 7.07 percent at $20.13 on the Nasdaq.