Ansys (ANSS) surpassed Wall Street’s expectations for fourth-quarter revenue and profit, propelled by heightened demand for its engineering software solutions. The Pittsburgh-based company witnessed a nearly 2% increase in its shares during extended trading following the announcement.
Ansys specializes in simulation software utilized by engineers, chip designers, and researchers across various industries to analyze products for real-world applications. Its products compete with offerings from Autodesk and Dassault Systems.
Additionally, Ansys expanded its offerings to include artificial intelligence solutions, such as the AnsysGPT customer support chatbot and cloud-enabled product SimAI. These initiatives aim to extend AI functionality for its users.
Brokerage firm Oppenheimer expressed confidence in Ansys’ performance, highlighting sustained double-digit software revenue growth within the industry.
For the fourth quarter, Ansys reported revenue of $805.1 million, surpassing analysts’ average estimate of $797.4 million. Adjusted earnings per share stood at $3.94, outperforming the estimated $3.71 per share.
Furthermore, Ansys announced Rachel Pyles as its incoming CFO, effective February 22, succeeding Nicole Anasenes. The company is set to merge with Synopsys in a $35-billion cash-and-stock deal, expected to conclude in the first half of 2025.
