PTC Lowers FY22 Revenue Outlook

(RTTNews) - While reporting its results for the second quarter on Wednesday, PTC (PTC) revised its revenue outlook for the full year 2022.

The company now expects revenues of $1.90 billion to $1.95 billion, compared to prior estimate of $1.91 billion to $1.98 billion. Analysts polled by Thomson Reuters currently estimate earnings of $1.94 billion for the year.

"Despite the foreign exchange headwinds and the impact of exiting our business in Russia in Q2'22, our resilient business model, consistent execution, and operational discipline position us to deliver on our updated targets for the year," said CFO Kristian Talvitie.

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