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Progress Software (PRGS) Tops Q2 EPS by 4c; Guides In-Line

June 29, 2016 4:20 PM EDT

Progress Software (NASDAQ: PRGS) reported Q2 EPS of $0.33, $0.04 better than the analyst estimate of $0.29. Revenue for the quarter came in at $96.7 million versus the consensus estimate of $94.64 million.

Phil Pead, CEO at Progress, said, "We are pleased with our second quarter performance. We had another solid quarter from our OpenEdge partners, strong growth from our data products and increased momentum in our Telerik bookings. We also announced our Digital Factory solutions during the quarter, which will enable us to take advantage of the longer-term growth opportunities available in the digital transformation market."

GUIDANCE:

Progress Software sees Q3 2016 EPS of $0.43-$0.46, versus the consensus of $0.44. Progress Software sees Q3 2016 revenue of $103-106 million, versus the consensus of $106.13 million.

Progress Software sees FY2016 EPS of $1.57-$1.63, versus the consensus of $1.59. Progress Software sees FY2016 revenue of $412-418 million, versus the consensus of $414.46 million.

For earnings history and earnings-related data on Progress Software (PRGS) click here.



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