ANSYS (ANSS, $285.48) beats Q2 expectations

ANSYS Inc. posted its  second-quarter 2022 earnings fell -4.3% from the year-ago quarter to $1.77 per share, but surpassed the Zacks Consensus Estimate by 9.94%.

Non-GAAP revenues rose +5% year-over-year (up +12% at constant currency or cc) to $475.9 million, beating the Zacks Consensus Estimate by 1.97%.

The software company’s Subscription lease revenues (28.4% of non-GAAP revenues) rose +12.4% at cc year over year to $135 million. Perpetual licenses’ revenues (15.5%) fell - 9.3% year over year at cc to $73.9 million.

Maintenance revenues (52.5%) grew +17.7% at cc to $249.7 million, while Service revenues (3.6%) climbed +33.1% year over year to $17.2 million.

Annual contract value rose +6.9% year over year (+13.2% at cc) to $460.3 million.