Industrial software maker PTC forecasts fourth-quarter results above estimates

▤ Summary

High interest rates are prompting enterprise clients to spend cautiously and rethink their plans to ramp-up digitization and automate workflow to tap the AI boom. The companys software is used to design and repair products ranging from planes to computers. It acquired ServiceMax for about $1.46 billion in cash last year, a business that helps clients repair assets such as wind turbines and medical devices. The company also trimmed the upper end of its fiscal 2024 revenue forecast. Our Standards: The Thomson Reuters Trust Principles.

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PTC

$1B+