Progress Software Q4 2023 Adj EPS $1.02 Beats $0.91 Estimate, Non-GAAP Revenue $177.50M Beat $174.05M Estimate
Portfolio Pulse from Benzinga Newsdesk
Progress Software (NASDAQ:PRGS) reported Q4 2023 adjusted EPS of $1.02, surpassing the $0.91 estimate, and non-GAAP revenue of $177.50M, exceeding the $174.05M estimate. This represents an 11.51% increase in sales compared to the same period last year.
January 16, 2024 | 9:25 pm
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Progress Software's Q4 earnings and revenue exceeded analyst expectations, with an EPS of $1.02 against a $0.91 estimate and revenues of $177.50M against a $174.05M estimate.
Beating both earnings and revenue estimates typically has a positive impact on investor sentiment and can lead to a short-term increase in stock price. The significant beat on EPS and the positive revenue surprise, along with year-over-year sales growth, are likely to be viewed favorably by the market.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100