For the quarter ended August 2023, Progress Software (PRGS - Free Report) reported revenue of $175.78 million, up 14.9% over the same period last year. EPS came in at $1.08, compared to $1.00 in the year-ago quarter.
The reported revenue represents a surprise of +1.43% over the Zacks Consensus Estimate of $173.3 million. With the consensus EPS estimate being $1.00, the EPS surprise was +8.00%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Progress Software performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Revenue- Services: $19.28 million versus the three-analyst average estimate of $15.58 million.
- Revenue- Maintenance: $105.16 million versus $102.87 million estimated by three analysts on average.
- Revenue- Maintenance and services: $124.45 million versus the three-analyst average estimate of $118.44 million. The reported number represents a year-over-year change of +20.1%.
- Revenue- Software licenses: $50.54 million versus $55.56 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +6.1% change.
View all Key Company Metrics for Progress Software here>>>Shares of Progress Software have returned -9% over the past month versus the Zacks S&P 500 composite's -1.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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For the quarter ended August 2023, Progress Software (PRGS - Free Report) reported revenue of $175.78 million, up 14.9% over the same period last year. EPS came in at $1.08, compared to $1.00 in the year-ago quarter.
The reported revenue represents a surprise of +1.43% over the Zacks Consensus Estimate of $173.3 million. With the consensus EPS estimate being $1.00, the EPS surprise was +8.00%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Progress Software performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Revenue- Services: $19.28 million versus the three-analyst average estimate of $15.58 million.
- Revenue- Maintenance: $105.16 million versus $102.87 million estimated by three analysts on average.
- Revenue- Maintenance and services: $124.45 million versus the three-analyst average estimate of $118.44 million. The reported number represents a year-over-year change of +20.1%.
- Revenue- Software licenses: $50.54 million versus $55.56 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +6.1% change.
View all Key Company Metrics for Progress Software here>>>Shares of Progress Software have returned -9% over the past month versus the Zacks S&P 500 composite's -1.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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