E2open Beats Q1 EPS, Revenues Missed
<p><a href='https://financialmodelingprep.com/financial-summary/ETWO'>E2open (NYSE:ETWO)</a> reported its Q1 earnings results, with EPS of $0.05, in line with the Street estimate of $0.05. However, revenue of $160.12 million missed the Street estimate of $173.04 million.</p>
<p>Michael Farlekas, CEO of e2open, stated that in the first quarter of fiscal year 2024, the company achieved subscription revenue that surpassed the upper end of its projected range. Farlekas also highlighted the company's ability to maintain robust profit margins and generate substantial cash flow during this period. The effectiveness and distinct advantages of e2open's cloud-native, network-centric connected supply chain software platform were further demonstrated through the completion of significant deals with several new customers in the quarter.</p>
<p>The company expects fiscal 2024 revenue to be in the range of $665-$670 million, compared to the Street estimate of $661.8 million.</p>

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