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Progress Software’s stock is up on earnings, revenue beat

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Progress Software Corp.’s stock crawled up 1% in extended trading Tuesday after the computing giant reported quarterly results that topped analyst revenue...

Progress Software Corp.’s PRGS, -1.42% stock crawled up 1% in extended trading Tuesday after the computing giant reported quarterly results that topped analyst revenue and earnings estimates. Progress Software reported fiscal third-quarter net income of $19.1 million, or 42 cents a share, compared with net income of $21.

8 million, or 50 cents a share, in the year-ago quarter. Adjusted earnings were $1.08 a share. Revenue was $175 million, up 16% from $151.2 million a year ago. Analysts surveyed by FactSet had expected on average net earnings of $1 a share on revenue of $173.3 million. Shares of Progress Software have climbed 10% this year, while the broader S&P 500 index SPX, -1.47% has increased 11%.

 

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