logo
  

PTC Q2 Profit Rises, Lifts FY21 Outlook

PTC (PMTC) Wednesday reported second-quarter net income of $109.3 million or $0.92 per share, up from $7.2 million or $0.06 per share last year.

Adjusted earnings for the quarter were $1.08 per share, up from $0.59 per share last year.

Revenues for the quarter grew 28% to $461.8 million from $359.6 million last year, driven primarily by strong execution, as well as the impact of up-front license revenue recognition under ASC 606, and a modest contribution from Arena.

Analysts polled by Thomson Reuters expected earnings of $0.70 per share on revenues of $416.19 million. Analysts' estimates typically exclude one-time items.

Looking forward to full year 2021, the company now expects adjusted earnings of $3.18 to $3.39 per share and revenues of $1.71 billion to $1.74 billion. Analysts currently estimate earnings of $3.16 per share on revenues of $1.71 billion.

Previously, the company expected adjusted earnings of $3.05 to $3.25 per share on revenues of $1.69 billion to $1.73 billion.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Royal Caribbean Group's ultra-luxury brand Silversea Cruises is set to launch the world's first hybrid-powered cruise ship in the summer of 2023. This will also be the first ship with large-scale fuel cell technology to enable emission-free port operations. The fuel cells will provide 100% of power while at port. Affco USA is recalling around 24,461 pounds of frozen raw lamb shoulder products that were not presented for import re-inspection into the U.S., the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS announced. The recall involves the frozen raw lamb shoulder items that were imported on July 12, 2021. American Express Company (AXP) reported an increase in profit for the third quarter that also topped Wall Street estimates. Consolidated total revenues net of interest expense rose 25 percent year-on-year, primarily reflecting growth in Card Member spending, as well as a rise in the average discount...
Follow RTT