PTC forecasts quarterly revenue above estimates on strong software demand

Feb 4 (Reuters) - PTC PTC.O forecast second-quarter revenue above Wall Street expectations on Wednesday, betting on strong demand for its industrial software as companies gravitate towards artificial intelligence-driven technology to help manage large businesses.

PTC has seen resilient demand for its products that help firms with design, part management, maintenance, automation among other services, as enterprises invest heavily in infrastructure to streamline operations in the AI era.

The company has been incorporating AI into its tech, with digital assistants and machine learning helping clients collate and organize data quickly and speed up productivity.

Shares of the company, however, were down around 1% in extended trading.

It forecast second-quarter revenue of between $710 million and $770 million, compared with estimates of $688.8 million, according to data compiled by LSEG.

PTC also raised its revenue forecast for fiscal 2026 to between $2.68 billion and $2.94 billion, compared with its prior forecast of between $2.65 billion and $2.92 billion.

It projected quarterly adjusted EPS of between $1.93 and $2.54, compared with estimates of $1.96.

Revenue for the first quarter came in at $685.8 million, beating estimates of $637 million.

On an adjusted basis, the company earned $1.92 per share, compared with estimates of a profit of $1.56 per share.