CAMBRIDGE — Shares of Pegasystems Inc. fell 21.4 percent yesterday after the business software maker posted second-quarter adjusted earnings below expectations.
The Cambridge company late Monday reported a net loss of $8.2 million, or 22 cents per share, down from net income of $11.2 million, or 30 cents, in the same period a year earlier. Adjusted earnings were 10 cents per share in the latest quarter. These excluded foreign-exchange losses and acquisition charges of $9.5 million for Chordiant Software Inc. Revenue rose 29 percent, to $82.2 million.
Analysts, on average, were expecting a profit of 16 cents per share on revenue of $85 million, according to Thomson Reuters. The estimates exclude unusual items, but include stock-based compensation expenses.
The company forecast full-year earnings of 30 cents per share and adjusted earnings of $1.02 per share. Analysts expect earnings of 84 cents per share.
The shares closed at $23.31, down $6.34.