Stock Track | Bentley Systems Plunges 5.52% in Pre-market After Q2 Revenue Misses Estimates
Stock Track
Aug 06
Shares of Bentley Systems, Inc. (BSY) dropped 5.52% in pre-market trading on Thursday following the release of its second-quarter financial results, which showed a slight revenue miss despite an earnings beat.
The infrastructure software company reported adjusted earnings per share of $0.35, exceeding the analyst consensus estimate of $0.32. However, quarterly revenue came in at $410.7 million, rising 12.8% year-over-year but falling short of the $412.22 million consensus forecast. The top-line miss, though less than 1%, appeared to weigh on investor sentiment, overshadowing the stronger-than-expected bottom-line performance and double-digit growth in annualized recurring revenue.
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