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Progress Software recently beat revenue and earnings estimates, and revised guidance upward, but faces lower revenue growth and increased R&D spending. The company operates in the fast-growing DevOps market, but faces competition from major players focused on AI/ML integration. Recent financial trends feature flattening revenue, declining EPS, and lower gross profit margins.
Progress Software NASDAQ: PRGS is a technology company within the systems software sub-industry. The stock reached its 2024 low on Jun. 20, when it was down nearly 11% year to date.
Progress Software Corporation (NASDAQ:PRGS ) Q2 2024 Earnings Conference Call June 25, 2024 5:00 PM ET Company Participants Mike Micciche - VP, IR Yogesh Gupta - CEO Anthony Folger - CFO Conference Call Participants Fatima Boolani - Citigroup Pinjalim Bora - JPMorgan John DiFucci - Guggenheim Securities Harshil Thakkar - Oppenheimer Lucky Schreiner - D.A. Davidson Antonio Venturim - Jefferies Operator Good day and welcome to the Progress Software Corporation Q2 2024 Earnings Call.
Although the revenue and EPS for Progress Software (PRGS) give a sense of how its business performed in the quarter ended May 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Progress Software (PRGS) came out with quarterly earnings of $1.09 per share, beating the Zacks Consensus Estimate of $0.95 per share. This compares to earnings of $1.06 per share a year ago.
Second Quarter Revenues and Earnings Per Share Ahead of Guidance Raising Full Year Revenue and Earnings Per Share Outlook BURLINGTON, Mass., June 25, 2024 (GLOBE NEWSWIRE) -- Progress (Nasdaq: PRGS), the trusted provider of AI-powered infrastructure software, today announced financial results for its fiscal second quarter ended May 31, 2024.
Progress announced that it has received numerous accolades from prestigious organizations for employee satisfaction, leadership, and commitment to CSR.
Progress Software Corporation PRGS is scheduled to release its second quarter financial results, after the closing bell on Tuesday.
Progress Software Corporation PRGS will release its second quarter financial results, before the opening bell on Tuesday, June 25.
Progress today announced that it will release financial results for its fiscal second quarter of 2024 after the market close on Tuesday, June 25, 2024.