Aspen Technology Reports Positive Q2 Earnings, Surpassing Estimates
Aspen Technology, Inc. (AZPN) announced its fiscal Q2 results on Tuesday, reporting a net income of $20.3 million. This marks a turnaround from a loss in the same period last year.
On a per-share basis, the Bedford, Massachusetts-based company posted an earnings figure of 32 cents. Adjusted for one-time gains and costs, earnings were $2.06 per share. These results exceeded Wall Street expectations.
Analysts polled by Zacks Investment Research had forecasted earnings of $1.85 per share. Aspen Technology also reported revenue of $303.6 million for the quarter.
Shares of Aspen Technology have gained approximately 6% year-to-date. At the close of trading on Tuesday, the stock was valued at $263.97, representing a 38% increase over the past 12 months.