Bentley Systems Q2 Profit Up; Beats Street View; Lifts FY21 Outlook

(RTTNews) - Infrastructure engineering software company Bentley Systems, Inc. (BSY) on Tuesday recorded higher profit in the second quarter, helped by higher revenues. The results came in above the market expectations.

The company posted net income of $44.9 million or $0.14 per share in the second quarter, higher than $39.1 million or $0.13 per share in the same period last year.

Income, excluding items, came in at $74.3 million or $0.23 per share, compared to $46.0 or $0.16 a year ago.

On average, 6 analysts polled by Thomson Reuters expected the company to post earnings of $0.14 per share in the quarter. Analysts' estimates, usually, exclude one-time items.

Quarterly revenues rose 21 percent to $222.9 million from $184.3 million in the last year quarter while analysts were looking for revenues of $212.4 million in the three-month period.

Looking ahead, the company raised its outlook for fiscal 2021. The company now expects total revenues of between $945 million and $960 million, up from the earlier $895-$920 million. Analysts were looking for revenues of $917.3 million in the year ahead.