Progress Software Shares Down 3% on Q4 Revenue Miss
<p><a href='https://financialmodelingprep.com/financial-summary/PRGS'>Progress Software Corporation (NASDAQ:PRGS)</a> shares closed more than 3% lower on Wednesday after the company reported Q4 results, with revenue of $157.1 million coming in worse than the Street estimate of $161.59 million. EPS was $1.12, compared to the Street estimate of $1.09. </p>
<p>The company expects Q1/23 EPS to be in the range of $1.04-$1.08, compared to the Street estimate of $1.05, and revenue in the range of $156-160 million, compared to the Street estimate of $152 million.</p>
<p>For fiscal 2023, the company expects EPS in the range of $4.09-$4.17, compared to the Street estimate of $4.35, and revenue in the range of $671-681 million, compared to the Street estimate of $630.1 million.</p>
<p>According to the analysts at Oppenheimer, while fiscal 2023 guidance was underwhelming, management is being conservative due to the macro environment and there is a potential for an upside.</p>

NASDAQ:PRGS