Bentley Systems, Incorporated (BSY) Q3 Earnings and Revenues Miss Estimates

Group 1: Earnings Performance - Bentley Systems reported quarterly earnings of $0.24 per share, missing the Zacks Consensus Estimate of$ 0.25 per share, but showing an increase from $0.22 per share a year ago, representing an earnings surprise of -4% [1] - The company posted revenues of$ 335.17 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 1.40%, compared to year-ago revenues of $306.61 million [2] - Over the last four quarters, Bentley Systems has surpassed consensus EPS estimates three times and topped consensus revenue estimates two times [2] Group 2: Stock Performance and Outlook - Bentley Systems shares have lost about 4.3% since the beginning of the year, while the S&P 500 has gained 24.3% [3] - The company's earnings outlook will be crucial for future stock movements, with current consensus EPS estimates at$ 0.25 for the coming quarter and $1.10 for the current fiscal year [4][7] - The estimate revisions trend for Bentley Systems is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Group 3: Industry Context - The Internet - Software industry, to which Bentley Systems belongs, is currently in the top 25% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]