Progress Software's stock is up on earnings, revenue beat
Progress Software Corp.'s (PRGS) stock crawled up 1% in extended trading Tuesday after the computing giant reported quarterly results that topped analyst revenue and earnings estimates. Progress Software reported fiscal third-quarter net income of $19.1 million, or 42 cents a share, compared with net income of $21.8 million, or 50 cents a share, in the year-ago quarter. Adjusted earnings were $1.08 a share. Revenue was $175 million, up 16% from $151.2 million a year ago. Analysts surveyed by FactSet had expected on average net earnings of $1 a share on revenue of $173.3 million. Shares of Progress Software have climbed 10% this year, while the broader S&P 500 index has increased 11%.
-Jon Swartz
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
09-26-23 1625ET
Copyright (c) 2023 Dow Jones & Company, Inc.-
What’s the Difference Between the CPI and PCE Indexes?
-
Micron Earnings: Great Guidance but Stock Now Looks Fairly Valued
-
August PCE Report Forecasts Show More Good News on Inflation
-
AI Stocks May Be Down, but Don’t Count Them Out
-
4 Stocks to Buy as the Fed Cuts Interest Rates
-
Markets Brief: The Uncertain Path to Neutral Interest Rates
-
What’s Happening in the Markets This Week
-
Where Top Stock Fund Managers Are Looking Next After the Fed Rate Cut
-
Our Top Pick for Investing in US Renewable Energy
-
How to Measure a Stock’s Uncertainty
-
How to Determine Whether a Stock Is Cheap, Expensive, or Fairly Valued
-
Why a Company’s Management and Capital Allocation Matter
-
How to Determine What a Stock Is Worth
-
How to Measure a Company’s Competitive Advantage
-
How to Think Like a Stock Analyst
-
How GLP-1 Drugs Like Ozempic Are Boosting Biopharma Stocks