French software maker Dassault Systèmes plunges 21%, on track for worst day ever

Shares of French software powerhouse Dassault Systèmes experienced a dramatic decline of 21% during early trading on Wednesday, marking a potential record low for the company's stock. This downturn occurred shortly after the stock was briefly suspended from trading at market opening. The significant drop in share value followed the release of the company's fourth-quarter earnings. The report revealed a 5% decline in adjusted software revenues for the last quarter of the previous year. Over the entire year, Dassault Systèmes reported a total revenue of 6.24 billion euros ($7.43 billion), which fell short of analysts' expectations of 6.3 billion euros, according to LSEG data. Software revenue also stagnated, reaching only 5.64 billion euros. As the market continues to react to these figures, the situation remains fluid, and updates are expected as the day progresses.