29.03.2019 16:27:00

Why Shares of Progress Software Jumped Today

Shares of Progress Software (NASDAQ: PRGS) rose on Friday following a fiscal first-quarter report that beat analyst expectations. While revenue and earnings declined from the prior-year period, both the top and bottom lines were better than expected, and the company's guidance was solid as well. The stock was up about 15.3% at 10:45 a.m. EST.Progress Software reported first-quarter revenue of $89.5 million, down 6% year over year but nearly $2 million higher than the average analyst estimate. Software license revenue was down 12% to $22.8 million, while maintenance and services revenue was down 4% to $66.7 million. Adjusted for currency, total revenue declined by 4% year over year.Image source: Getty Images.Continue reading
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