Micro Focus Profit Warning Sends Shares Crashing

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Shares in the UK’s Micro Focus tumbled over 30 percent this morning after the IT management services firm announced a “strategic review” of operations and slashed guidance, blaming a “deteriorating macro environment resulting in more conservatism and longer decision making cycles within our customer base.”

Micro Focus had reiterated its full year guidance just last month in a first half earnings report, but admitted that it was continuing to struggle to integrate HPE’s’ software business – bought in 2017 for $8.8 billion – saying “consistency and pace of execution need to continue

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