Progress Software Corp (PRGS) announced earnings for first quarter that decreased from the same period last year but beat the Street estimates.
The company's earnings came in at $10.95 million, or $0.24 per share. This compares with $22.64 million, or $0.51 per share, last year.
Excluding items, Progress Software Corp reported adjusted earnings of $58.995 million or $1.31 per share for the period.
Analysts on average had expected the company to earn $1.06 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period rose 28.9% to $238.015 million from $184.685 million last year.
Progress Software Corp earnings at a glance (GAAP) :
-Earnings: $10.95 Mln. vs. $22.64 Mln. last year.-EPS: $0.24 vs. $0.51 last year.-Revenue: $238.015 Mln vs. $184.685 Mln last year.
-Guidance:Next quarter EPS guidance: $1.28 - $1.34Next quarter revenue guidance: $235 - $241 MlnFull year EPS guidance: $5.25 - $5.37Full year revenue guidance: $958 - $970 Mln
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.