Pegasystems Inc. (NASDAQ:PEGA) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 2.42%.
Pegasystems Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 43.48% to $0.33 in the quarter versus EPS of $0.23 in the year-earlier quarter.
Revenue: Rose 4.57% to $116.25 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Pegasystems Inc. reported adjusted EPS income of $0.33 per share. By that measure, the company beat the mean analyst estimate of $0.21. It missed the average revenue estimate of $118.14 million.
Quoting Management: “Despite the global economy, in Q1 Pegasystems delivered strong increases in license revenue and earnings,” said Alan Trefler, Founder and CEO of Pegasystems. “Organizations are faced with a difficult set of challenges as they must simultaneously improve customer experience across channels, increase operational effectiveness, and execute in an environment of continuous change. They know they need innovative, enterprise software to accomplish this, and are increasingly turning to Pegasystems’ technology as the solution. Our continued ability to show significant business returns for our clients is a competitive strength, and our financial results are a reflection of this.”
Key Stats (on next page)…