Progress Software up on FY24 forecast raise

Progress Software

24/09/2024 22:11

** Shares of Progress Software  PRGS.O  rise 4.3% to $59.60
in extended trading
    ** Company now expects FY24 revenue to be between $745 mln
and $755 mln, compared to prior guidance of between $725 mln and
$735 mln
    ** Company forecasts FY24 adjusted EPS to be between $4.75
and $4.85, compared to previous forecast of $4.70 and $4.80 per
share
    ** PRGS reported Q3 revenue of $178.7 mln, compared with
LSEG estimates of $175.9 mln
    ** Up to last close, stock had risen 5.3% YTD

 (Reporting by Harshita Mary Varghese in Bengaluru)
 ((HarshitaMary.Varghese@thomsonreuters.com))