Progress Software Corp Q2 adjusted earnings Beat Estimates

Progress Software Corp (PRGS) revealed earnings for second quarter that dropped from last year.

The company's bottom line totaled $13.56 million, or $0.30 per share. This compares with $16.97 million, or $0.37 per share, in last year's second quarter.

Excluding items, Progress Software Corp reported adjusted earnings of $36.51 million or $0.82 per share for the period.

Analysts had expected the company to earn $0.72 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 22.0% to $122.49 million from $100.38 million last year.

Progress Software Corp earnings at a glance:

-Earnings (Q2): $36.51 Mln. vs. $28.66 Mln. last year.
-EPS (Q2): $0.82 vs. $0.63 last year.
-Analysts Estimate: $0.72
-Revenue (Q2): $122.49 Mln vs. $100.38 Mln last year.

Full year EPS guidance: $3.46 - $3.50
Full year revenue guidance: $529 - $535 Mln

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