Companies have cut back on software budgets in the wake of high interest rates and an uncertain economy, depressing demand for companies like PTC.
The Boston-based company also said its board has authorized a share buyback of up to $2 billion through September 2027.
The company expects first-quarter revenue to be between $540 million and $570 million, below the average analyst estimate of $609.1 million, according to LSEG data.
PTC forecast adjusted earnings per share of 75 to 95 cents for the quarter, compared with analysts’ estimate of $1.33.
For fiscal 2025, PTC expects revenue to be between $2.51 billion and $2.61 billion, with the midpoint above the average analyst estimate of $2.54 billion.
It posted revenue of $626.5 million for the fourth quarter ended September 30, compared with average analyst estimates of $620.5 million.
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Reporting by Juby Babu in Mexico City; Editing by Maju Samuel
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