Benzinga | Jan 14, 2021 04:42PM EST

Progress Software: Q4 Earnings Insights

Shares of Progress Software (NASDAQ:PRGS) fell 2.8% in after-market trading after the company reported Q4 results.

Quarterly Results

Earnings per share increased 15.19% over the past year to $0.91, which beat the estimate of $0.77.

Revenue of $129,063,000 rose by 4.58% from the same period last year, which beat the estimate of $128,010,000.

Looking Ahead

Progress Software Sees FY21 Adj. EPS $3.22-$3.28 vs $3.21 Estimate, Sales $513M-$521M vs $516M Est.

Progress Software Sees Q1 Adj. EPS $0.72-$0.76 vs $0.81 Est., Adj. Revenue $119M-$123M vs $130.82M Est.

Conference Call Details

Date: Jan 14, 2021

Time: 05:00 PM

ET Webcast URL: https://edge.media-server.com/mmc/p/hr3nd5rv

Recent Stock Performance

52-week high: $52.50

Company's 52-week low was at $28.09

Price action over last quarter: Up 33.07%

Company Profile

Progress Software Corporation is a provider of cloud-based security solutions to large- and mid-sized organizations in a wide range of industries. The firm operates in three segments: OpenEdge, which offers development software for building multi-language applications; Data Connectivity and Integration, which focuses on data integration components of its cloud offerings; and Application Development and Deployment, which focuses on growing application development assets for customers. The company derives revenue from perpetual licenses to its products, but some products also use term licensing models. Its cloud-based offerings use a subscription-based model. A majority of the firm's revenue is generated in the United States, Europe, the Middle East, and Africa (EMEA).