CAMBRIDGE, Mass. (AP) — CAMBRIDGE, Mass. (AP) — Pegasystems Inc. (PEGA) on Wednesday reported fourth-quarter earnings of $119.1 million.
The Cambridge, Massachusetts-based company said it had profit of $1.25 per share. Earnings, adjusted for one-time gains and costs, were $1.61 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.52 per share.
The business software company posted revenue of $490.8 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $482.3 million.
For the year, the company reported profit of $99.2 million, or $1.11 per share. Revenue was reported as $1.5 billion.
Pegasystems expects full-year earnings to be $3.10 per share, with revenue expected to be $1.6 billion.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PEGA at https://www.zacks.com/ap/PEGA
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.