Progress Software (PRGS) Tops Q1 EPS by 6c, Revenues Beat; Lowers FY20 EPS/Revenue Guidance Below Consensus

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Go back to Progress Software (PRGS) Tops Q1 EPS by 6c, Revenues Beat; Lowers FY20 EPS/Revenue Guidance Below Consensus

Progress 2020 First Quarter Results Exceed Guidance

March 26, 2020 4:16 PM EDT

BEDFORD, Mass., March 26, 2020 (GLOBE NEWSWIRE) -- Progress (NASDAQ: PRGS), the leading provider of application development and digital experience technologies, today announced results for its fiscal first quarter ended February 29, 2020.

On a GAAP basis, revenue was $109.7 million during the quarter compared to $89.5 million in the same quarter last year, a year-over-year increase of 22% on an actual currency basis and 23% on a constant currency basis. On a non-GAAP basis, revenue was $113.8 million during the quarter compared to $89.5 million in the same quarter last year, an increase of 27% on an actual... More