Progress Software Beats Q3 Estimates: Guidance Raise to Lift Shares? [Yahoo! Finance]
Progress Software Corporation (PRGS)
Last progress software corporation earnings: 3/26 04:15 pm
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Source: Yahoo! Finance
Progress Software PRGS posted third-quarter fiscal 2024 non-GAAP earnings of $1.26 per share, beating the Zacks Consensus Estimate by 10.53% and increasing 16.7% year over year. Non-GAAP revenues of $179 million beat the consensus mark by 1.67% and increased 2% year over year on an actual and constant-currency basis. The upside can be attributed to stronger-than-expected demand for multiple products in PRGS's portfolio, particularly OpenEdge, DevTools, Sitefinity, Loadmaster, Flowmon and MOVEit. On a constant-currency basis, annualized recurring revenues came in at $582 million, flat year over year. The metric was supported by strong contributions from OpenEdge and a net retention rate of 99%. PRGS inched up 5.3% year to date compared with the Zacks Computer & Technology sector's growth of 22.1% over the same time frame. However, we expect that strong third-quarter results and raised guidance will help the stock recover in the near term. Progress Software Corporation Price, C
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PRGS
News
- Progress Unveils Native Next.js Support in Sitefinity, Offering Maximum Flexibility to Create and Scale Digital Experiences [Yahoo! Finance]Yahoo! Finance
- Progress Unveils Native Next.js Support in Sitefinity, Offering Maximum Flexibility to Create and Scale Digital ExperiencesGlobeNewswire
- Amazon confirms employee data stolen after hacker claims MOVEit breach [TechCrunch]TechCrunch
- Software firm's new parent company cuts 199 jobs in Raleigh days after acquisition [Yahoo! Finance]Yahoo! Finance
- Progress and emt Distribution Celebrate 10th Anniversary of Successful PartnershipGlobeNewswire
PRGS
Earnings
- 9/24/24 - Beat
PRGS
Sec Filings
- 11/5/24 - Form 4
- 11/5/24 - Form 4
- 11/5/24 - Form 4
- PRGS's page on the SEC website