PTC lifts annual revenue forecast on software demand
PTC Inc increased its full-year revenue outlook to a range of $2.58 billion to $2.82 billion as manufacturers invest in digital transformation tools. The company also reported second-quarter earnings of $2.69 per share, which exceeded analyst expectations.
PTC INC raised its annual revenue forecast to a range of $2.58 billion to $2.82 billion on May 6. PTC increased the lower end of its outlook from $2.54 billion as manufacturers accelerate digital design spending. Strong demand for industrial digitization tools suggests enterprise software budgets remain steady.
### Digital Transformation Drives Revenue Beat Shares of the Boston-based firm rose nearly 4% during late evening trading following the announcement. PTC reported second-quarter revenue of $774 million for the period ended March 31, exceeding the $715.4 million predicted by analysts. Adjusted earnings reached $2.69 per share, beating the $2.11 consensus estimate.
