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Shares of Progress Software (NASDAQ:PRGS) rose in after-market trading after the company reported Q2 results.
Quarterly Results
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Earnings per share increased 30.16% over the past year to $0.82, which beat the estimate of $0.72.
Revenue of $129,198,000 up by 26.04% from the same period last year, which beat the estimate of $121,860,000.
Outlook
Progress Software Sees Q3 Adj. EPS $0.81-$0.83 vs $0.85 Estimate, Adj. Sales $129M-$132M vs $132M Estimate
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Price Action
Company's 52-week high was at $49.23
Company's 52-week low was at $34.05
Price action over last quarter: Up 5.04%
Company Description
Progress Software Corporation is a provider of cloud-based security solutions to large- and mid-sized organizations in a wide range of industries. The firm operates in three segments: OpenEdge, which offers development software for building multi-language applications; Data Connectivity and Integration, which focuses on data integration components of its cloud offerings; and Application Development and Deployment, which focuses on growing application development assets for customers. The company derives revenue from perpetual licenses to its products, but some products also use term licensing models. Its cloud-based offerings use a subscription-based model. A majority of the firm's revenue is generated in the United States, Europe, the Middle East, and Africa (EMEA).
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.