Advertisement
UK markets closed

  • FTSE 100

    8,164.12
    -15.56 (-0.19%)
     

  • FTSE 250

    20,286.03
    -45.77 (-0.23%)
     

  • AIM

    764.38
    -0.09 (-0.01%)
     

  • GBP/EUR

    1.1798
    -0.0007 (-0.06%)
     

  • GBP/USD

    1.2635
    -0.0006 (-0.05%)
     

  • Bitcoin GBP

    47,671.14
    -1,008.31 (-2.07%)
     

  • CMC Crypto 200

    1,262.74
    -21.09 (-1.64%)
     

  • S&P 500

    5,469.15
    -13.72 (-0.25%)
     

  • DOW

    39,028.72
    -135.34 (-0.35%)
     

  • CRUDE OIL

    81.36
    -0.38 (-0.46%)
     

  • GOLD FUTURES

    2,334.30
    -2.30 (-0.10%)
     

  • NIKKEI 225

    39,583.08
    +241.54 (+0.61%)
     

  • HANG SENG

    17,718.61
    +2.14 (+0.01%)
     

  • DAX

    18,235.45
    +24.90 (+0.14%)
     

  • CAC 40

    7,479.40
    -51.32 (-0.68%)
     
Property :

8 UK holiday home businesses you could buy now

A holiday let could be a very sound investment, providing a decent income, capital growth and — somewhere to escape

Progress Software (PRGS) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

Zacks Equity Research
·2-min read

Progress Software (PRGS) reported $175.08 million in revenue for the quarter ended May 2024, representing a year-over-year decline of 2.3%. EPS of $1.09 for the same period compares to $1.06 a year ago.

The reported revenue represents a surprise of +3.85% over the Zacks Consensus Estimate of $168.6 million. With the consensus EPS estimate being $0.95, the EPS surprise was +14.74%.

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.

ADVERTISEMENT

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: $18.60 million compared to the $16.66 million average estimate based on three analysts.

  • Revenue- Maintenance: $102.50 million compared to the $98.91 million average estimate based on three analysts.

  • Revenue- Maintenance and services: $121.10 million versus the three-analyst average estimate of $115.57 million. The reported number represents a year-over-year change of -0.6%.

  • Revenue- Software licenses: $53.98 million compared to the $52.42 million average estimate based on three analysts. The reported number represents a change of -4.3% year over year.

View all Key Company Metrics for Progress Software here>>>

Shares of Progress Software have returned -2.6% over the past month versus the Zacks S&P 500 composite's +2.8% 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.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Progress Software Corporation (PRGS) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research