Shares of Pegasystems Inc. (PEGA) jumped over 5% in pre-market trading on Wednesday after the software company reported better-than-expected earnings for the third quarter of 2024.
Pegasystems said its adjusted earnings for the quarter ended September 30 came in at $0.39 per share, surpassing analysts' consensus estimate of $0.34 per share. However, revenue of $325.1 million slightly missed expectations of $327.7 million.
The company's earnings were driven by strong performance despite a slight year-over-year revenue decline of 2.9%. Investors appeared to overlook the modest revenue miss, focusing instead on Pegasystems' ability to surpass profit expectations amid an uncertain economic environment.
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