Why Parametric Technology Shares Popped
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What: Shares of Parametric Technology (NAS: PMTC) have popped by upward of 12% after the company reported second-quarter earnings.
So what: Revenue was $301.1 million and earnings per share added up to $0.30. CEO James Heppelmann said that while management was disappointed with the results, the company has market momentum and its sales pipeline should grow over time.
Now what: Guidance for the third quarter sees revenue of $300 million to $315 million, which is actually lower than expected. The same goes for full-year adjusted earnings per share, which should be in the ballpark of $1.42 to $1.50. While the results left a little to be desired, this was mostly expected as the company had issued a warning earlier this month, so it seems that the figures weren't as bad as investors thought they would be.
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