Benzinga | Sep 27, 2021 07:56AM EDT

Progress Software: Q3 Earnings Insights



Progress Software(NASDAQ:PRGS) stock rose by 14.91% on Friday after the company reported its Q3 earnings results on Thursday, September 23, 2021 at 04:15 PM.

Here's what investors need to know about the announcement.

Earnings

Progress Software beat their estimated earnings by 43.9%, which surprised analysts.

Revenue was up $41,715,000 from the same period last year.

Past Earnings Performance

Last quarter the company beat on EPS by $0.1, which was followed by a 0.98% increase in the share price the next day.

Here's a look at Progress Software's past performance and the resulting price change:



Quarter Q3 2021 Q2 2021 Q1 2021 Q4 2020 Q3 2020EPS Estimate 0.82 0.72 0.75 0.77 0.77EPS Actual 1.18 0.82 0.95 0.91 0.78Price Change % 14.91% 0.98% 5.91% -9.57% -5.34%

New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).

Guidance

The company also raised its FY21 EPS and sales guidance above analyst estimates.

To track all upcoming earnings announcements, click to use Benzinga Earnings Calendar.