Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why PTC Stock Plunged Today

TheMotleyFool

0 0

Why PTC Stock Plunged TodayPhoto, wide shot, wide-angle lens, Metal fabrication, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Hiroshi Sugimoto: https://img.midjourneyapi.xyz/temp/568784d0-c41a-4663-ab01-91f29a370903.png

Shares of PTC (NASDAQ: PTC) have plunged today, down by 19% as of 12:20 p.m. EDT, after the company reported fiscal third-quarter earnings results. The industrial software maker is experiencing some speed bumps as it transitions to a subscription model.

Revenue in the fiscal third quarter following new revenue recognition accounting standards came in at $295 million, which translated into a net loss of $15 million, or $0.13 per share as reported under generally accepted accounting principles (GAAP). Non-GAAP net income was $27 million, or $0.23 per share. License and subscription bookings were $109 million.

Image source: Getty Images.

Quelle Fool.com

Like: 0

PTC

Share