Aspen Technology (AZPN) Beats On Q1 Earnings & Revenues
Zacks Investment Research | Oct 30, 2019 09:12PM ET
Aspen Technology (NASDAQ:AZPN) reported first-quarter fiscal 2020 non-GAAP earnings of 79 cents per share, outpacing the Zacks Consensus Estimate by 21.5% and improving 23.4% on a year-over-year basis.
Revenues of $134.1 million surpassed the Zacks Consensus Estimate of $120 million and improved 17.4% from the year-ago quarter. The increase can be attributed to improvement in year-over-year bookings.
Notably, total bookings for the reported quarter came in at $135 million, up 40.4% year over year, primarily driven by higher term license contracts for renewals.
Moreover, ongoing momentum in Asset Performance Management (APM) and Manufacturing & Supply Chain (MSC) suite, and strength in Engineering suite of solutions drove year-over-year revenues.
Coming to the price performance, shares of Aspen Technology have returned 44.3% in the year-to-date period, outperforming the Zacks Investment Research
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