Progress Software Earnings: Here’s Why Investors are Ambivalent Now
Progress Software Corp. (NASDAQ:PRGS) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0%.
Progress Software Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 28.57% to $0.27 in the quarter versus EPS of $0.21 in the year-earlier quarter.
Revenue: Decreased 28.71% to $81.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Progress Software Corp. reported adjusted EPS income of $0.27 per share. By that measure, the company beat the mean analyst estimate of $0.22. It beat the average revenue estimate of $79.04 million.
Quoting Management: There was no comment from the management.
Key Stats (on next page)…
Revenue decreased 8.48% from $89.27 million in the previous quarter. EPS increased 17.39% from $0.23 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.33 to a profit $0.29. For the current year, the average estimate has moved down from a profit of $1.21 to a profit of $1.16 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)