FMP
PTC Reports Better Than Expected Q2 Results
Apr 28, 2023 4:12 PM - Davit Kirakosyan(Last modified: Dec 19, 2023 6:49 PM)
Image credit: FMP
PTC (NASDAQ:PTC) reported its Q2 earnings on Wednesday, with EPS coming in at $1.16, better than the Street estimate of $1.13. Revenue was $542.18 million, beating the Street estimate of $537.85 million.
Despite what continues to be an uneven macro, the company again delivered solid results, noting strength across all geos and product lines. ARR continues to beat expectations as management noted "outstanding" churn rates as well as an improved quarter for bookings following a softer start to the year.
Following the results, analysts at RBC Capital raised their price target to $158 from $155, reiterating their Outperform rating.
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