Much was riding on these half-year numbers from Micro Focus (MCRO) following its $8.8bn (£6.5m) merger with HPE Software last September. Complicating matters further, the enlarged group is moving its financial year-end from April to October – leading analysts at Barclays to describe these results as “something of a lost period”. Even so, the market was clearly disappointed: the shares tumbled 15 per cent on their release. HPE Software reported revenues of $2.9bn – at the bottom end of management’s most recent guidance.
IC TIP:
Hold
at
2,127p