Progress Software Raises FY25 Outlook - Updates

(RTTNews) - While announcing its second quarter financial results, Progress Software (PRGS) raised its outlook for fiscal year 2025.

The company raised its earnings per share guidance for fiscal year 2025 to a range of $1.27 - $1.43 from the prior estimation of $1.19 - $1.35. The company also increased its annual non-GAAP earnings per share outlook to a range of $5.28 - $5.40 from the previous guidance of $5.25 - $5.37. Analysts expect the company to report earnings of $5.31 per share for fiscal year 2025. Analysts' estimates typically exclude special items.

The company now expects revenues for fiscal year 2025 to be between $962 million and $974 million compared to the prior outlook of $958 million - $970 million. Analysts expected revenue of $965.54 million for the quarter.

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