CAMBRIDGE, Mass. (AP) — CAMBRIDGE, Mass. (AP) — Pegasystems Inc. (PEGA) on Wednesday reported a loss of $20.8 million in its first quarter.
On a per-share basis, the Cambridge, Massachusetts-based company said it had a loss of 25 cents. Earnings, adjusted for one-time gains and costs, came to 23 cents per share.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 33 cents per share.
The business software company posted revenue of $325.5 million in the period, which also missed Street forecasts. Five analysts surveyed by Zacks expected $350.9 million.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PEGA at https://www.zacks.com/ap/PEGA
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