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
When Can We Expect Starlink to Go Public? This question got an answer from Tesla and SpaceX CEO Elon Musk, who said he will only publicly list SpaceX's satellite internet service Starlink when its revenue is more predictable. Musk was responding to a users tweet, "Any thoughts on Starlink IPO we would love to invest in the future. Any thoughts on first dibs for Tesla retail investors?" John David McAfee, who founded the antivirus software company McAfee Associates, has been found dead in a prison cell in Spain shortly after a Spanish court agreed to extradite him to the US to face tax evasion charges, multiple reports said. He was arrested in Spain in October 2020 after being accused of failing to file tax returns for four years. While reporting financial results for the first quarter of fiscal 2022 on Thursday, drugstore chain Rite Aid Corp. (RAD) initiated its adjusted loss and total revenue guidance for the full-year 2022, below analysts' estimates. For fiscal 2022, the company now projects an adjusted loss in a range...
RELATED NEWS
Follow RTT