Aspen Technology (AZPN) Beats On Q3 Earnings & Revenues
Zacks Investment Research | Apr 24, 2019 11:58PM ET
Aspen Technology (NASDAQ:AZPN) delivered third-quarter fiscal 2019 non-GAAP earnings of 96 cents per share, outpacing the Zacks Consensus Estimate of 84 cents and surged on a year-over-year basis.
Revenues of $147.9 million were up 16% from the adjusted year-ago quarter. The Zacks Consensus Estimate was pegged at $137 million. The increase can be attributed to improvement in year-over-year bookings.
Notably, bookings came in at $410.8 million on a year-to-date basis, representing year-over-year growth of 23%. Total booking for the reported quarter came in at $160 million, up 29% year over year, primarily driven by higher term license contracts for renewals.
Moreover, the company’s Asset Performance Management (APM) suite delivered its strongest performance to date. Moreover, ongoing momentum in Manufacturing & Supply Chain (MSC) suite and strength in Engineering suite of solutions drove year-over-year revenue growth.
Coming to the price performance, shares of Aspen Technology have returned 39.3% in the year-to-date period, outperforming the Zacks Investment Research
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