Open Text Corporation's stock surged 5.53% during extended trading on Thursday, driven by the company's release of better-than-expected second quarter fiscal 2026 financial results.

The enterprise software provider reported non-GAAP earnings per share of $1.13, exceeding analyst estimates that ranged from $1.01 to $1.03. Quarterly revenue reached $1.327 billion, also surpassing consensus forecasts. Notably, cloud revenues grew 3.4% year-over-year, marking 20 consecutive quarters of organic cloud growth, while the company maintained a robust adjusted EBITDA margin of 37.0%.

Investor sentiment was further bolstered by strategic announcements including the appointment of Ayman Antoun as the new Chief Executive Officer effective April 2026, and progress on divesting non-core assets to sharpen the company's focus on its core Enterprise Information Management for AI market.