Progress Software (PRGS) Tops Q1 EPS by 8c

Progress Software (NASDAQ: PRGS) reported Q1 EPS of $0.34, $0.08 better than the analyst estimate of $0.26. Revenue for the quarter came in at $91.2 million versus the consensus estimate of $87.48 million.

Yogesh Gupta, CEO at Progress, said: “I am pleased with our Q1 performance. Our revenue and earnings per share were above our expectations, and we announced several important releases of our core technology during the quarter. I am also excited about our recent acquisition of DataRPM, which will enable us to accelerate the development of our next-generation Cognitive Applications platform, the driver for our future growth.”

Guidance:

Sees Q2 2017 EPS $0.35-$0.37 compared with estimate of $0.37, revenues $89-$92 million compared with estimate of $93.1 million.

Sees FY 2017 EPS $1.64-$1.69 compared with estimate for $1.65, revenues of $388-$396 million compared with estimate for $391.2 million.

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

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