Progress Software Corporation Sees Q3 EPS $0.98-$1.02 Vs $0.97 Est.; Revenue $172M-$176M Vs $170.68M Est
Portfolio Pulse from Benzinga Newsdesk
Progress Software Corporation has projected its Q3 earnings per share (EPS) to be between $0.98 and $1.02, which is higher than the estimated $0.97. The company also expects its revenue to be between $172M and $176M, surpassing the estimated $170.68M.
June 29, 2023 | 8:26 pm
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POSITIVE IMPACT
Progress Software Corporation's higher than expected Q3 EPS and revenue projections could potentially lead to a positive impact on its stock price.
Companies that report earnings or revenue projections higher than estimates often see a positive reaction in their stock price as this indicates better than expected performance. Therefore, PRGS's stock price may likely increase in the short term.
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