Site icon Schnitger Corporation

Quickie: DS blows by Q2 forecast

EarningsDassault Systèmes reported today that Q2 revenue was €716 million, up 29% as reported (and up 16% in constant currency) year/year. The company had forecast non-IFRS total revenue of around €675 million and just reported non-IFRS Q2 revenue of €723 million. Some of this is clearly exchange-rate related, but a lot is actual growth. We’ll learn a lot more after the conference call (and after I listen to the more detailed company briefing held in Europe earlier), but here are the details so far:

So, what happened to get to this result? Per the press release, the new direct sales model, economic improvement across Asia, increased revenue from large customers, new business activity across its established and new industries — we’ll hope to learn more from the conference calls.

The company also raising guidance for the full year: Q3 non-IFRS revenue of €660 million to €670 million, or IFRS growth of about 7% to 9% in cc. For the year, the company now sees  non-IFRS revenue growth of about 12% in cc to €2.80 billion to €2.82 billion.

These are really good results, yet the share price is up less than 1% on the news (at 8AM ET). Clearly, there’s a lot more to learn. Check back later for an update.

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