Progress Software Sees FY24 Adj. EPS $4.58-$4.68 vs $4.64 Est., Revenue $722M-$732M vs $729.51M Est.
Portfolio Pulse from Benzinga Newsdesk
Progress Software projects its FY24 adjusted earnings per share (EPS) to be in the range of $4.58-$4.68, compared to the estimated $4.64. The company also forecasts revenue to be between $722 million and $732 million, versus the estimated $729.51 million.
January 16, 2024 | 9:28 pm
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NEUTRAL IMPACT
Progress Software's FY24 guidance for adjusted EPS and revenue is closely aligned with analyst estimates, indicating stable financial expectations.
The company's projected EPS and revenue for FY24 are very close to analyst estimates, which suggests that there are no significant surprises expected in the company's financial performance. This typically leads to a neutral short-term impact on the stock price, as the market has likely already priced in these expectations.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100