💨 Abstract

PTC, an industrial software company, forecasts Q1 revenue below estimates due to reduced demand for its design and testing software as businesses tighten budgets amid economic uncertainty and high-interest rates. The company expects revenue between $540-$570 million, below the average estimate of $609.1 million. PTC also announced a share repurchase program of up to $2 billion.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖