PTC Leads Design Software Earnings Group as Revenue Beats Estimates; Shares Rise

PTC Inc. (NASDAQ: PTC) posted the strongest revenue beat among six tracked design software companies in the latest earnings cycle, with revenue rising 21.7% year over year to $774.3 million, 8.6% above analyst estimates. The group’s first-quarter results were broadly solid, with revenue exceeding consensus estimates by an average of 3% and next-quarter revenue guidance in line. Despite the beats, the group’s shares have fallen an average of 4.1% since reporting. PTC shares have risen 6.8% and recently traded at $146.01, though its next-quarter EPS guidance missed expectations. Cadence Design Systems (NASDAQ: CDNS) reported revenue of $1.47 billion, up 18.7%, and its shares gained 7.6%. Adobe (NASDAQ: ADBE) revenue rose 12% to $6.40 billion, but its shares fell 8.8%. Dolby Laboratories (NYSE: DLB) had the group’s slowest growth at 7.1% and dropped 9.5%, while Unity (NYSE: U) rose 16.8% in revenue but shares slipped 1%.