Micro Focus to launch internal assessment after shares crash by 30 per cent

Tom Wright
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Micro Focus to launch internal assessment after shares crash by 30 per cent

Vendor says it will miss revenue guidance despite already predicting a decline

Micro Focus' share price plummeted by over 30 per cent today after the British software vendor revealed it would miss revenue guidance. In a trading update, Micro Focus said that it would not hit constant currency guidance of a year-on-year decline of between four and six per cent in its fiscal year. The firm said that "weak sales execution" has been compounded by a "deteriorating macro environment" which has led to longer decision-making times from buyers. CEO Stephen Murdoch said that...

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