Pegasystems Inc. (PEGA) stock plummeted 6.01% in intraday trading on Thursday, following the release of its Q4 2024 earnings report that showed a significant decline in revenue despite beating earnings estimates.
The software company reported adjusted earnings per share of $1.61 for the quarter ended December 31, 2024, surpassing the analyst consensus estimate of $1.46. However, revenue fell sharply by 31.8% year-over-year to $323.30 million, missing expectations of $470.69 million.
While Pegasystems' earnings exceeded forecasts, the substantial drop in revenue appears to have weighed heavily on the stock's performance. The company's shares had gained 10.8% in the previous quarter, but the latest results suggest a potential slowdown in growth.
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