Software firm Dassault Systemes cuts 2024 forecast again on auto sector slowdown
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 24 2024
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Source: Reuters
Revenue Forecast Adjustment: Dassault Systemes has reduced its 2024 revenue growth forecast to 5%-7% due to a slowdown in the global automotive industry, marking the second cut in four months.
Market Challenges: The company reported a 4% increase in third-quarter revenue but faces pressure from declining volumes in the automotive sector and competition from larger peers pursuing strategic acquisitions.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
