MICRO FOCUS SOFTWARE

MICRO FOCUS SOFTWARE

Micro Focus launched a three-year turnaround plan in 2020 after the costly and difficult integration of its $8.8 billion acquisition of HPEвЂ™s software assets that led to an impairment charge of approximately $2.8 billion. вЂњOur recovery programme and specifically our systems transformation are progressing as planned despite the challenges of executing this within the constraints of a global lockdown,вЂќ said Stephen Murdoch, who took over as chief executive in 2018. The company, which embarked on a transformational restructuring program in 2020 posted a statutory operating loss from continuing operations of $154.8 million, compared with a loss of $906.7 million a year earlier. While Micro Focus is one of those tech companies that the mainstream public has likely not heard of, they provide critical infrastructure to major banks, retailers, and governments that underpin the services millions of customers use every day. Low Drama,вЂќ aimed at delivering trusted and proven mission-critical software that keeps the digital world running. Micro FocusвЂ™s published goal is вЂњHigh Tech. The company has 12,000 employees, serving 40,000 customers worldwide and 98 of the Fortune 100 customers. Micro Focus, one of the worldвЂ™s largest enterprise software providers, reported revenue in the first six months of 2021 of $1.4 billion. Micro Focus Announces First Half Results, Turnaround ContinuesДЄnalyst Take: Micro Focus announces its first half results, and itвЂ™s clear the turnaround continues. Read the companyвЂ™s interim results announcement here. The company also said it had set aside $70 million to resolve a patent infringement dispute with U.S. Micro Focus reported a smaller loss for the first half, as it focuses on cost reduction. The News: British software company Micro Focus International announces interim results for the first six months of 2021.

Micro focus