Progress Software Reports Q3 Beat, Provides Guidance
<p><a href='https://financialmodelingprep.com/financial-summary/PRGS'>Progress Software Corporation (NASDAQ:PRGS)</a> reported its Q3 results, with an EPS of $1.00 coming in better than the Street estimate of $0.97. Revenue was $151.2 million, compared to the Street estimate of $148.1 million. Strong results were driven by a stable spending environment and robust demand for several products including Chef, DataDirect, OpenEdge, and Sitefinity.</p>
<p>The company expects Q4/22 EPS to be in the range of $1.06-$1.10, compared to the Street estimate of $1.10, and revenue in the range of $158-166 million, compared to the Street estimate of $165 million.</p>
<p>For the full 2022 year, the company expects EPS in the range of $4.08-$4.12, compared to the Street estimate of $4.08, and revenue in the range of $609-617 million, compared to the Street estimate of $612.4 million.</p>
<p>While the analysts at Oppenheimer expect FX to continue to serve as a near-term headwind, they see the potential for margin expansion as the company completes its integration of Kemp. Overall, the analysts are positive on the steady execution and view the full 2022-year guidance as conservative, seeing the potential for upside as Progress capitalizes on a building M&A pipeline.</p>

NASDAQ:PRGS