Endava Plunges On Lower Q2 Profit

Shares of software development company Endava plc (DAVA) are falling more than 14% Tuesday morning after reporting lower profit in the second quarter.

Profit for the second quarter declined to 15 million pounds or 0.26 pounds per share from 15.4 million pounds or 0.27 pounds per share a year ago.

Excluding one-time items, earnings were 33.2 million pounds or 0.57 pounds per share.

Quarterly revenue, however, increased 30.2% year-on-year to $205.2 million pounds.

DAVA is at $75.46 currently. It has traded in the range of $61.55-$146.47 in the last 1 year.

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