Progress Software Sees Q3 EPS $1.15 Vs $1.21 Est.; Revenue $174M-$178M Vs $183.52M Est.; Revises FY24 EPS From $4.65-$4.75 To $4.70-$4.80 Vs $4.69 Est.; Revenue From $722M-$732M To $725M-$735M $ Vs $726.5M Est.
Portfolio Pulse from Benzinga Newsdesk
Progress Software has revised its Q3 and FY24 guidance. Q3 EPS is now expected to be $1.15 vs. $1.21 estimated, and revenue is projected at $174M-$178M vs. $183.52M estimated. FY24 EPS guidance has been revised to $4.70-$4.80 vs. $4.69 estimated, and revenue to $725M-$735M vs. $726.5M estimated.
June 25, 2024 | 8:18 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Progress Software has revised its Q3 and FY24 guidance. Q3 EPS is now expected to be $1.15 vs. $1.21 estimated, and revenue is projected at $174M-$178M vs. $183.52M estimated. FY24 EPS guidance has been revised to $4.70-$4.80 vs. $4.69 estimated, and revenue to $725M-$735M vs. $726.5M estimated.
The revised guidance indicates lower-than-expected Q3 EPS and revenue, which is likely to negatively impact investor sentiment in the short term. However, the slight upward revision in FY24 EPS and revenue guidance may provide some support.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100