RTTNews | Jan 18, 2022 04:41PM EST

16:41 Tuesday, January 18, 2022 (RTTNews.com) - Progress Software Corp (PRGS) reported a profit for fourth quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $14.93 million, or $0.33 per share. This compares with $17.66 million, or $0.39 per share, in last year's fourth quarter.

Excluding items, Progress Software Corp reported adjusted earnings of $41.29 million or $0.92 per share for the period.

Analysts on average had expected the company to earn $0.74 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.4% to $143.73 million from $129.06 million last year.

Progress Software Corp earnings at a glance:

-Earnings (Q4): $14.93 Mln. vs. $17.66 Mln. last year.-EPS (Q4): $0.33 vs. $0.39 last year.-Analyst Estimates: $0.74-Revenue (Q4): $143.73 Mln vs. $129.06 Mln last year.

-Guidance:Next quarter EPS guidance: $0.85Next quarter revenue guidance: $139 - $142

Read the original article on RTTNews ( https://www.rttnews.com/3255696/progress-software-corp-q4-profit-decreases-but-beats-estimates.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2022 RTTNews.com All Rights Reserved