Aspen Technology (AZPN) Misses Q3 EPS by 12c

Aspen Technology (NASDAQ: AZPN) reported Q3 EPS of $0.74, $0.12 worse than the analyst estimate of $0.86. Revenue for the quarter came in at $132 million versus the consensus estimate of $142.95 million.

“AspenTech’s third quarter results reflected strong demand trends through the first two months of the quarter, before the uncertainty and impact of the COVID-19 pandemic led to more cautious customer buying behavior,” said Antonio Pietri, President and Chief Executive Officer of Aspen Technology. “While the near-term market environment will likely continue to be challenging, we believe we are well-positioned to navigate current conditions based on the mission critical nature of our products and solutions, the value they create in our customer’s operations, our durable business model, and strong balance sheet.”

GUIDANCE:

Aspen Technology sees FY2020 EPS of $3.16-$3.48, versus the consensus of $3.53. Aspen Technology sees FY2020 revenue of $550-582 million, versus the consensus of $575.06 million.

For earnings history and earnings-related data on Aspen Technology (AZPN) click here.

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