BURLINGTON, Mass. (AP) — BURLINGTON, Mass. (AP) — Progress Software Corp. (PRGS) on Tuesday reported fiscal third-quarter profit of $28.5 million.
On a per-share basis, the Burlington, Massachusetts-based company said it had profit of 65 cents. Earnings, adjusted for one-time gains and costs, were $1.26 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.14 per share.
The business software maker posted revenue of $178.7 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $175.8 million.
For the current quarter ending in November, Progress Software expects its per-share earnings to range from $1.15 to $1.25.
The company said it expects revenue in the range of $207 million to $217 million for the fiscal fourth quarter.
Progress Software expects full-year earnings in the range of $4.75 to $4.85 per share, with revenue ranging from $745 million to $755 million.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PRGS at https://www.zacks.com/ap/PRGS
Copyright © 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
