Progress Software (PRGS) reported $179.23 million in revenue for the quarter ended May 2023, representing a year-over-year increase of 18.8%. EPS of $1.06 for the same period compares to $1.04 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $170.31 million, representing a surprise of +5.24%. The company delivered an EPS surprise of +17.78%, with the consensus EPS estimate being $0.90.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company’s financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock’s price performance.
Here is how Progress Software performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Revenue- Maintenance and services- Maintenance: $102.24 million versus $109.64 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +11.9% change.
- Revenue- Maintenance and services- Services: $19.60 million versus $13.67 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +55.6% change.
- Revenue- Maintenance and services: $121.84 million compared to the $110.07 million average estimate based on two analysts. The reported number represents a change of +17.2% year over year.
- Revenue- Software licenses: $56.41 million versus $51.50 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +25.9% change.
View all Key Company Metrics for Progress Software here>>>
Shares of Progress Software have returned -10.7% over the past month versus the Zacks S&P 500 composite’s +4.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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