OpenText Reports Q2 Beat Driven By Cloud

OpenText reported Q2 results on Thursday, posting $1.33 billion in revenue—above the $1.29 billion expected—despite a 0.6% year-over-year decline. The Kitchener-Waterloo company saw 3.4% cloud growth and an 18% increase in enterprise cloud bookings to $295 million, with EPS beating estimates by over 10% and adjusted EBITDA of 37%, supporting a 1–2% revenue outlook for fiscal 2026.