PTC Sees Profit And Sales As Low End Of Guidance

PTC Inc. said Monday that it expects fiscal fourth-quarter earnings and revenue to be at the low end of its previously-provided guidance, as a higher-than-expected subscription mix came with increasing commission expense. The internet of things technology platform company raised its outlook for bookings to a range of $139 million to $142 million for the quarter ending Sept. 30 from its previous guidance of $111 million to $121 million. The company now expects its bookings subscription mix for the quarter to be about 70%, above its previously-provided estimate of 46%. PTC expects to report quarterly results after the Oct. 26 close. The stock, which is still inactive in premarket trade, has soared 28% year to date while the S&P 500 has gained 6.1%.