PTC forecasts weak fiscal 2024 as tech spending remains strained

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- PTC Inc on Wednesday forecast its fiscal 2024 revenue below Wall Street estimates, signaling weakness in demand for its industrial design and testing software as companies keep their technology budgets tight.

PTC said it sees revenue between $2.27 billion and $2.36 billion for the year ending September 2024, compared to analysts' consensus estimate of $2.36 billion, according to LSEG data.

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