28.06.2019 19:42:00

Why Shares of Progress Software Popped Today

Shares of Progress Software (NASDAQ: PRGS) jumped on Friday after the application development software provider reported second-quarter results that were ahead of analyst estimates. The stock was up about 11% at 12:40 p.m. EDT.Progress Software reported revenue of $100.0 million for the second quarter under generally accepted accounting principles (GAAP), up 8% year over year. On a non-GAAP basis, revenue was $103.5 million, up 11% year over year and about $5.3 million above the average analyst estimate. The company's results include a contribution from the acquisition of Ipswitch, which was completed during the second quarter.Image source: Getty Images.Continue reading
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