Progress Software Sees Q4 EPS Non-GAAP EPS $0.87-$0.93 Vs $0.98 Est.; Revenue $171M-$177M Vs $175.92M Est.; FY23 Non-GAAP EPS $4.20-$4.26 Vs $4.20 Est.; Revenue $692M-$698M Vs $692.52M Est.
Portfolio Pulse from Happy Mohamed
Progress Software has updated its Q4 and FY23 guidance. For Q4, it expects non-GAAP EPS to be between $0.87 and $0.93, compared to the estimated $0.98, and revenue to be between $171M and $177M, compared to the estimated $175.92M. For FY23, it expects non-GAAP EPS to be between $4.20 and $4.26, matching the estimate, and revenue to be between $692M and $698M, also matching the estimate. The company also expects a positive currency translation impact on its fiscal year 2023 and Q4 2023 business outlook.
September 26, 2023 | 8:20 pm
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NEUTRAL IMPACT
Progress Software's updated guidance for Q4 and FY23 matches estimates for non-GAAP EPS and revenue for FY23, but falls short for Q4 non-GAAP EPS. The company also expects a positive currency translation impact on its fiscal year 2023 and Q4 2023 business outlook.
The company's updated guidance matches estimates for non-GAAP EPS and revenue for FY23, which is a positive sign. However, the expected non-GAAP EPS for Q4 falls short of estimates, which could negatively impact the stock. The expected positive currency translation impact could also influence the stock positively. Overall, the impact on the stock is neutral in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100