Progress Software Corporation (NASDAQ:PRGS) is reporting third quarter earnings results on Tuesday 29th September 2020, after market close.
The consensus estimates from Thomson Reuters are income of $ 0.77 per share from $ 110.10 million in revenue.
For the full year, analysts predict revenues of $ 454.89 million, while looking forward to income of $ 2.96 per share.
The Company Outlook
Revenue for 3Q20 are expected in a range of $ 104.00 million ~ $ 109.00 million
Full Year 2020 topline are forecasted in a range of$ 433.00 million ~ $ 443.00 million, where as bottomline are predicted in a range of $ 2.82 ~ $ 2.86 per share
Click Here For More Historical Outlooks Of Progress Software Corporation
Previous Quarter Performance
Progress Software Corporation recorded income for the second quarter of $ 0.63 per share, from the revenue of $ 102.50 million. The quarterly earnings contracted 3.08 percent while revenues contracted 0.94 percent compared with the same quarter last year.
According to street consensus, PRGS was expected to report 2Q20 income of $ 0.62 per share from revenue of $ 98.33 million. The bottom line results beat street analysts by $ 0.01 or 1.61 percent, at the same time, top line results outshined analysts by $ 4.17 million or 4.24 percent.
Stock Performance
Shares of Progress Software Corporation traded up $ 1.54 or 4.31 percent on Monday, reaching $ 37.28 with volume of 506.00 thousand shares. Progress Software Corporation has traded high as $ 37.43 and has cracked $ 36.03 on the downward trend
According to the previous trading day, closing price of $ 37.28, representing a 27.23 % increase from the 52 week low of $ 28.09 and a 31.92 % decrease over the 52 week high of $ 52.50.
The company has a market capital of $ 1.68 billion and is part of the Technology sector and Software – Application industry.
Conference Call
Progress Software Corporation will be hosting a conference call at 5:00 PM eastern time on 29th September 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.progress.com
Progress Software Corporation develops business applications worldwide. The company operates in three segments: OpenEdge, Data Connectivity and Integration, and Application Development and Deployment. The OpenEdge segment offers Progress OpenEdge, a development software, which builds multi-language applications for secure deployment across various platforms and devices, as well as cloud; Progress Corticon, a business rules management system that enables applications with decision automation and change process, and decision-related insight capabilities; Progress Kinvey, a platform for building enterprise applications; NativeScript, an open-source application development platform; and DataRPM, a cognitive predictive maintenance solution for industrial IoT.
