Progress Software Shares Slip After Q2 Results, Guides Q3 Below Consensus
Progress Software Corp (NYSE: PRGS ) reported second-quarter revenue growth of 21% year-over-year to $148.7 million , 24% on a constant currency basis. Adjusted revenue was $150.9 million ( 17% Y|Y) and 19% Y|Y on a constant currency basis, beating the consensus of $146.93 million. Adjusted EPS was $1.04, much higher than the consensus of $0.95. Annualized Recurring Revenue (ARR) increased 13% Y|Y to $486 million. The gross margin declined by 35 bps to 83.9%. Adjusted operating income increased 23% Y|Y to $61.3 million, and margin expanded by 300 bps to … Full story available on Benzinga.com
Progress Software Shares Slip After Q2 Results, Guides Q3 Below Consensus
Progress Software Corp (NYSE: PRGS ) reported second-quarter revenue growth of 21% year-over-year to $148.7 million , 24% on a constant currency basis. Adjusted revenue was $150.9 million ( 17% Y|Y) and 19% Y|Y on a constant currency basis, beating the consensus of $146.93 million. Adjusted EPS was $1.04, much higher than the consensus of $0.95. Annualized Recurring Revenue (ARR) increased 13% Y|Y to $486 million. The gross margin declined by 35 bps to 83.9%. Adjusted operating income increased 23% Y|Y to $61.3 million, and margin expanded by 300 bps to … Full story available on Benzinga.com