BEDFORD, Mass. (AP) — BEDFORD, Mass. (AP) — Aspen Technology, Inc. (AZPN) on Wednesday reported a fiscal third-quarter loss of $57.6 million, after reporting a profit in the same period a year earlier.
The Bedford, Massachusetts-based company said it had a loss of 89 cents per share. Earnings, adjusted for one-time gains and costs, were $1.06 per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.66 per share.
The software maker posted revenue of $229.9 million in the period, also missing Street forecasts. Three analysts surveyed by Zacks expected $284.1 million.
Aspen Technology expects full-year earnings in the range of $5.63 to $5.83 per share, with revenue in the range of $1.04 billion to $1.06 billion.
Aspen Technology shares have increased 13% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $231.79, an increase of 51% in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AZPN at https://www.zacks.com/ap/AZPN
/Intel%20Corp_%20logo%20on%20mobile%20phone-by%20Piotr%20Swat%20via%20Shutterstock.jpg)
/Nvidia%20logo%20by%20Konstantin%20Savusia%20via%20Shutterstock.jpg)
/Alphabet%20(Google)%20Image%20by%20Markus%20Mainka%20via%20Shutterstock.jpg)
/An%20image%20of%20a%20Tesla%20humanoid%20robot%20in%20front%20of%20the%20company%20logo%20Around%20the%20World%20Photos%20via%20Shutterstock.jpg)