Progress Software (PRGS) Reports Q4 Earnings: What Key Metrics Have to Say
Progress Software (PRGS) reported $177.52 million in revenue for the quarter ended November 2023, representing a year-over-year increase of 11.5%. EPS of $1.02 for the same period compares to $1.12 a year ago.
The reported revenue represents a surprise of +1.99% over the Zacks Consensus Estimate of $174.07 million. With the consensus EPS estimate being $0.91, the EPS surprise was +12.09%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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- Software licenses: $56.27 million compared to the $56.20 million average estimate based on three analysts. The reported number represents a change of +5.9% year over year.
Revenue- Services: $19.12 million versus the three-analyst average estimate of $16.04 million.
Revenue- Maintenance: $101.58 million versus $102.21 million estimated by three analysts on average.
Revenue- Maintenance and services: $120.70 million versus the three-analyst average estimate of $118.22 million. The reported number represents a year-over-year change of +16.1%.
View all Key Company Metrics for Progress Software here>>>
Shares of Progress Software have returned -1.8% over the past month versus the Zacks S&P 500 composite's +1.6% 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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Progress Software Corporation (PRGS) : Free Stock Analysis Report
