Progress Software: Q2 Earnings Insights
Portfolio Pulse from Benzinga Insights
Progress Software (NASDAQ:PRGS) reported Q2 earnings, beating estimates by 17.78% with an EPS of $1.06. Revenue was up $28.35 million YoY. Last quarter, the company also beat EPS estimates, but this was followed by a 4.91% drop in share price. The company provided Q3 2023 guidance, expecting earnings between $0.98 and $1.02 per share.
June 29, 2023 | 8:30 pm
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Progress Software beat Q2 earnings estimates and provided Q3 2023 guidance. However, last quarter's earnings beat was followed by a share price drop.
While Progress Software beat Q2 earnings estimates and provided positive Q3 guidance, the share price reaction to last quarter's earnings beat was negative. This suggests that despite positive earnings, other factors may influence the stock's short-term performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100