Pegasystems Q3 Earnings Miss Estimates; Revenue Falls Short of Forecasts

Pegasystems Inc. (PEGA) reported third-quarter earnings that fell short of Wall Street expectations, with adjusted profit of 35 cents per share versus the 45-cent average estimate from four analysts surveyed by Zacks Investment Research. The Waltham, Massachusetts-based business software company posted net earnings of $14.1 million, or 8 cents per share, on Tuesday. Revenue for the period totaled $393.4 million, also below the $429 million forecast by analysts. The results reflect weaker-than-expected performance for the enterprise software maker during the quarter.