Progress Software: Q2 Earnings Insights

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Progress Software 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.

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