Progress Software First Quarter 2024 Earnings: Beats Expectations
Progress Software (NASDAQ:PRGS) First Quarter 2024 Results
Key Financial Results
Revenue: US$184.7m (up 13% from 1Q 2023).
Net income: US$22.6m (down 4.4% from 1Q 2023).
Profit margin: 12% (down from 14% in 1Q 2023). The decrease in margin was driven by higher expenses.
EPS: US$0.52 (down from US$0.55 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Progress Software Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) also surpassed analyst estimates by 17%.
Looking ahead, revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Software industry in the US.
Performance of the American Software industry.
The company's share price is broadly unchanged from a week ago.
Risk Analysis
Before you take the next step you should know about the 3 warning signs for Progress Software that we have uncovered.
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