Progress Software (NASDAQ:PRGS) reported its Q2 earnings results on Thursday, June 29, 2023 at 04:15 PM.
Here’s what investors need to know about the announcement.
Earnings
Progress Software beat estimated earnings by 17.78%, reporting an EPS of $1.06 versus an estimate of $0.9.
Revenue was up $28.35 million from the same period last year.
Past Earnings Performance
Last quarter the company beat on EPS by $0.14 which was followed by a 4.91% drop in the share price the next day.
Here’s a look at Progress Software’s past performance:
| Quarter | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|
| EPS Estimate | 1.05 | 1.09 | 0.97 | 0.95 |
| EPS Actual | 1.19 | 1.12 | 1 | 1.04 |
| Revenue Estimate | 158.66M | 162.57M | 148.01M | 146.93M |
| Revenue Actual | 165.61M | 159.17M | 153.06M | 150.88M |
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
Guidance
Progress Software management provided guidance for Q3 2023, expecting earnings between $0.98 and $1.02 per share.
To track all earnings releases for Progress Software visit their earnings calendar here.
This article was generated by Benzinga’s automated content engine and reviewed by an editor.
