Why Shares of Aspen Technology Rocketed Higher Today

Shares of Aspen Technology (NASDAQ: AZPN) soared on Thursday after the asset optimization software provider reported its fiscal fourth-quarter results. Aspen beat analyst expectations across the board, and it issued solid guidance for fiscal 2021. The stock was up about 29.5% at 11:30 a.m. EDT today.

Aspen reported fourth-quarter revenue of $199.3 million, up 1.8% year over year and about $24 million higher than the average analyst estimate. License revenue was down slightly to $147.2 million, while maintenance revenue jumped 15.7% to $45.7 million. Annual spend, defined as the annualized value of all term license and maintenance contracts, totaled $593 million at the end of the quarter, up 9.6% since last year.

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Source Fool.com