Progress Software Raises FY24 Adj Revenue Forecast From $725M - $735M To $745M - $755M (Est $730.02M), Adj EPS From $4.70 - $4.80 To $4.75 - $4.85 (Est $4.75)
Portfolio Pulse from Benzinga Newsdesk
Progress Software has increased its fiscal year 2024 adjusted revenue forecast from $725M-$735M to $745M-$755M, surpassing the estimated $730.02M. Additionally, the adjusted EPS forecast has been raised from $4.70-$4.80 to $4.75-$4.85, exceeding the estimated $4.75.
September 24, 2024 | 8:21 pm
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Progress Software has raised its FY24 adjusted revenue and EPS forecasts, both exceeding market estimates. This positive revision indicates strong business performance and could lead to a short-term stock price increase.
The upward revision of both revenue and EPS forecasts suggests better-than-expected business performance. This is likely to positively influence investor sentiment and drive the stock price up in the short term.
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