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Dassault shares jump as Q1 revenue in line with estimates
(Sharecast News) - Shares in Dassault Systemes jumped on Thursday as the French software maker reported first-quarter revenue in line with expectations and held full-year guidance. The company posted sales of €1.51bn, up 3%, boosted by demand for its 3DEXPERIENCE and Cloud businesses. Shares in the firm were up 4% amid weaker equity markets.
Dassault confirmed its full-year outlook for sales of €6.29bn - €6.41bn and operating margin of 32.2% to 32.6%.
"In the first quarter, we delivered performance in line with our objectives - and our growth drivers demonstrate that our strategy is working: 3DEXPERIENCE and Cloud grew at more than twice the rate of overall software revenue while our annual run rate was up 6%," said chief financial officer Rouven Bergmann.
"Notably, we generated €949m operating cash flow underscoring the quality of our earnings and the strength of our business model."
"Across our geographies, Europe saw healthy growth this quarter, driven by strong contributions from consumer centric industries. In the Americas, the performance was impacted by a tough comparison base while growth in Transportation & Mobility and Home & Lifestyle was strong. Asia remained resilient led by core industries."
Reporting by Frank Prenesti for Sharecast.com
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