Aspen Technology (AZPN) Tops Q2 EPS by 92c

Aspen Technology (NASDAQ: AZPN) reported Q2 EPS of $2.04, $0.92 better than the analyst estimate of $1.12. Revenue for the quarter came in at $233.7 million versus the consensus estimate of $170.35 million.

“AspenTech’s second quarter results were solid in the context of the current economic environment and support our outlook for a strong performance in the fiscal year. The quarter results were also highlighted by strong free cash flow generation,” said Antonio Pietri, President and Chief Executive Officer of Aspen Technology. “Customers continued to make substantial long-term commitments with AspenTech, including a renewal in excess of $75 million with one of the largest global oil companies making it one of the biggest transactions in our history.”

Pietri continued, “Demand activity remains strong across our product portfolio and we believe we are on track to have a good second half of the fiscal year. The increasing importance of digitalization and sustainability in the process and other capital intensive industries, as well as customer feedback on recent product announcements like the Aspen AIoT Hub and aspenONE v12, give us confidence in our ability to return to double-digit annual spend growth once the economy normalizes.”

GUIDANCE:

Aspen Technology sees FY2021 EPS of $5.29-$5.58, versus the consensus of $4.98. Aspen Technology sees FY2021 revenue of $731-760 million, versus the consensus of $738.67 million.

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

You May Also Be Interested In

• Union Pacific (UNP) Tops Q1 EPS by 18c
• Equinor ASA (EQNR) Tops Q1 EPS by 22c, misses on revenue
• Deutsche Bank (DB) Tops Q1 EPS by 1c