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Formula Systems 1985 Ltd - $FORTY STOCK NEWS

Welcome to our dedicated page for Formula Systems 1985 news (Ticker: $FORTY), a resource for investors and traders seeking the latest updates and insights on Formula Systems 1985 stock.

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Rhea-AI Summary
Formula Systems (1985) announced its financial results for Q4 and full year 2023, showing a 1.9% increase in revenues to $2.6 billion. Net income for the year was $64 million. Despite challenges like increased interest expenses and costs related to recent events in Israel, the company remains optimistic about its global operations.
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Rhea-AI Summary
Formula Systems (1985) Ltd. (FORTY) reported a 4.3% increase in revenues for the third quarter, reaching a record-breaking $654.8 million, with net income of $15.6 million. The company holds a diverse investment portfolio and remains in compliance with financial covenants.
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Rhea-AI Summary
Formula Systems (1985) Ltd. announced its Q2 2023 results, with revenues increasing by 3% YoY to $655.4 million. Net income for the quarter was $17.0 million. On a constant currency basis, revenues would have increased by 9.1%. Consolidated operating income amounted to $60.0 million, and net income attributable to Formula's shareholders increased by 7.3% YoY. Consolidated revenues for the first half of 2023 increased by 3.0% to $1.33 billion, with net income of $32.7 million. Formula was in compliance with all its financial covenants under the debenture series issued by it.
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Formula Systems 1985 Ltd

Nasdaq:FORTY

FORTY Rankings

FORTY Stock Data

1.18B
9.53M
12.59%
0.01%
Data Processing, Hosting, and Related Services
Information
Link
United States of America
5 Haplada St

About FORTY

Formula Systems is a publicly traded holding company headquartered in Or Yehuda, Israel. Through its subsidiaries it operates mainly in the area of information technology.