Benzinga | Jun 24, 2021 04:47PM EDT

Progress Software: Q2 Earnings Insights

Shares of Progress Software (NASDAQ:PRGS) rose in after-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share increased 30.16% over the past year to $0.82, which beat the estimate of $0.72.

Revenue of $129,198,000 up by 26.04% from the same period last year, which beat the estimate of $121,860,000.

Outlook

Progress Software Sees Q3 Adj. EPS $0.81-$0.83 vs $0.85 Estimate, Adj. Sales $129M-$132M vs $132M Estimate

How To Listen To The Conference Call

Date: Jun 24, 2021

Time: 05:00 PM

ET Webcast URL: https://edge.media-server.com/mmc/p/mp34d25a

Price Action

Company's 52-week high was at $49.23

Company's 52-week low was at $34.05

Price action over last quarter: Up 5.04%

Company Description

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).