Progress Software (PRGS) Tops Q1 EPS by 3c, Revenues Beat; Offers FY19 EPS/Revenue Guidance Above Consensus

Progress Software (NASDAQ: PRGS) reported Q1 EPS of $0.50, $0.03 better than the analyst estimate of $0.47. Revenue for the quarter came in at $89.5 million versus the consensus estimate of $87.64 million.

“We exceeded both our revenue and EPS guidance for the quarter, with OpenEdge leading the way with better-than-expected license revenue,” said Yogesh Gupta, CEO at Progress. “Our solid financial performance, coupled with the acquisition of Ipswitch, provides an encouraging start to our fiscal year, as we continue our focus on building shareholder value.”

GUIDANCE:

Progress Software sees Q2 2019 EPS of $0.55-$0.57, versus the consensus of $0.57. Progress Software sees Q2 2019 revenue of $96-99 million, versus the consensus of $93.22 million.

Progress Software sees FY2019 EPS of $2.46-$2.52, versus the consensus of $2.37. Progress Software sees FY2019 revenue of $422-428 million, versus the consensus of $383.42 million.

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

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