Why Shares of PTC Rose Today
Shares of PTC Inc. (NASDAQ: PTC) jumped on Thursday after the software provider reported its fiscal first-quarter results. PTC beat analyst estimates for both revenue and adjusted earnings, and it provided guidance that compared favorably to the analyst consensus. The stock was up about 8.7% at 1:20 p.m. EST, after having been up as much as 11.1% earlier in the day.
PTC reported first-quarter revenue of $356.1 million, up 6.4% year over year and $13.4 million above the average analyst estimate. Recurring revenue soared 21.5% to $305.4 million, while perpetual license revenue sank 78.5% to $9.0 million.
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Source Fool.com
