GDANSK (Reuters) -French software maker Dassault Systemes on Wednesday raised its full-year earnings and revenue forecast, due in part to the stronger dollar, after reporting higher-than-expected quarterly results.
The company, which sells software for carmakers, planemakers and industrial firms, reported revenue of 1.37 billion euros ($1.36 billion) in the third quarter, up 8% on the year in constant currencies and above analysts’ forecast of 1.33 billion euros in a company-provided poll.
Revenue was driven by strong subscription and support growth.
Dassault Systems increased its non-IFRS diluted earnings per share target for 2022 to between 1.12 and 1.14 euro from its earlier estimate of 1.08 euro and 1.10 euro.
“In a challenging environment, we delivered a solid third quarter thanks to the resiliency of our model and the broad diversification of our business,” chief operating officer Pascal Daloz said in a statement.
The company also said it was increasing its full-year revenue target to between 5.61 billion and 5.65 billion euros from a range of 5.49 billion to 5.54 billion euros previously boosted by a strong dollar.
($1 = 1.0047 euros)
(Reporting by Karol Badohal; editing by Josephine Mason)