Aspen Technology Earnings: Here’s Why Investors are Happy Now
Aspen Technology Inc. (NASDAQ:AZPN) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 5.28%.
Aspen Technology Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 1300% to $0.14 in the quarter versus EPS of $0.01 in the year-earlier quarter.
Revenue: Rose 29.44% to $79.4 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Aspen Technology Inc. reported adjusted EPS income of $0.14 per share. By that measure, the company beat the mean analyst estimate of $0.05. It beat the average revenue estimate of $73.1 million.
Quoting Management: Mark Fusco, Chief Executive Officer of AspenTech, said, “AspenTech delivered strong fiscal third quarter results that exceeded our guidance on all key metrics, including approximately 13% year-over-year growth in total license contract value. Customer demand remains solid across our key vertical markets and geographies, and we are increasingly seeing customers use a broader cross-section of our product suite.”
Key Stats (on next page)…