Ebix shares fall on Q4 profit miss

Ebix

15/03/2023 12:53

** Shares of on-demand software and e-commerce provider,
Ebix Inc  EBIX.O  down 26.2% at $12.01 premarket
    ** Reported Q4 adj EPS of $0.36, below Wall Street estimates
of $0.55
    ** Also reported lower Q4 rev of $255.2 mln compared to
$266.8 mln a year earlier
    ** While operating income continues to be strong, our net
income is getting negatively affected by high cost of bank
interest and associated legal and advisory fees associated with
refinancing and extension exercise - CEO Robin Raina
    ** EBIX down 18.49% YTD


 (Reporting by Tanya Jain)
 ((Tanya.Jain@thomsonreuters.com))