Progress Software slides on third-quarter revenue decline
01/10/2026 09:50
BUZZ-Progress Software slides on third-quarter revenue decline ** Shares of AI-powered software firm Progress Software PRGS.O down 1.7% at $39.30 premarket
** Company posts third-quarter revenue of $246 million, a 1.6% decline from $249.8 million a year ago
** Revenue hurt by declines in SaaS and professional-services businesses
** Company, however, raises FY26 revenue and adj.EPS outlook to $1.044 billion-$1.052 billion and adj.EPS to $6.15-$6.23, respectively
** Average rating of 6 analysts is "strong buy;" their median PT is $53 - data compiled by LSEG
** Up to last close, stock has fallen 6.9% YTD
(Reporting by Avinash P in Bengaluru)