India, June 5 -- Shares of Guidewire Software, Inc. (GWRE) were losing around 14 percent in the overnight trading after the company reported lower profit for the third quarter, mainly attributable to a foreign currency loss, compared to prior year's gains. However, adjusted net income increased with higher revenues. Further, the firm issued fourth- quarter outlook and raised fiscal 2026 forecast.
In the third quarter, net income for the period went down to $16.47 million from $46 million in the same quarter a year ago. Net income per share dropped to $0.19 from $0.54 in the prior year.
The significant decrease in the income reflected the foreign currency loss of $20.1 million, compared to the profit of $34.2 million in the previous year d...