HANGZHOU, CHINA – JUNE 14, 2024 – A guest walks past the logo of the 2024 Dassault Systemes Automotive and Transportation Industry Summit Forum in Hangzhou, Zhejiang province, China, June 14, 2024. (Photo credit should read CFOTO/Future Publishing via Getty Images)
Cfoto | Future Publishing | Getty Images
Shares of French software giant Dassault Systèmes plummeted as much as 21% in early trade on Wednesday, putting the stock on track for its worst trading day ever.
By 8:50 a.m. in London, the Paris-listed shares were 21% lower, after trading of the stock was briefly suspended at the open.
Dassault Systemes share price
It came after the company published its fourth-quarter earnings on Wednesday morning, which showed adjusted revenues from software dropped 5% in the final three months of last year.
For the full year, total revenue was flat at a weaker-than-expected 6.24 billion euros ($7.43 billion), and software revenue also showed little growth at 5.64 billion euros.
Analysts had been expecting total revenues to hit 6.3 billion euros, according to LSEG data.
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