Pegasystems' Sales Stabilize in the Second Quarter
Investors have been looking forward to the point when Pegasystems' (NASDAQ: PEGA) transformation into a cloud-based provider would begin to deliver steady sales growth and sustainable profits. That didn't happen in 2018, as the software giant undershot management's revenue targets because customers transitioned to subscription contracts at a faster pace than executives had planned.
This week, Pegasystems revealed continued robust demand for its cloud services, and the net impact was to limit sales growth and put further pressure on net income in the fiscal second quarter. Let's take a closer look at the latest metrics.
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Source Fool.com
