Progress Software shares have added about 6.2% since the beginning of the year versus the S&P 500's gain of 14%. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. The company has topped consensus revenue estimates three times over the last four quarters. This compares to year-ago revenues of $150.88 million. Progress Software, which belongs to the Zacks Computer - Software industry, posted revenues of $179.23 million for the quarter ended May 2023, surpassing the Zacks Consensus Estimate by 5.24%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. A quarter ago, it was expected that this business software maker would post earnings of $1.04 per share when it actually produced earnings of $1.19, delivering a surprise of 14.42%. This quarterly report represents an earnings surprise of 17.78%. These figures are adjusted for non-recurring items. This compares to earnings of $1.04 per share a year ago. Progress Software ( PRGS Quick Quote PRGS - Free Report) came out with quarterly earnings of $1.06 per share, beating the Zacks Consensus Estimate of $0.90 per share.
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