Progress Software: Q2 Earnings Insights

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.

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.

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).

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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