BURLINGTON, Mass. (AP) — BURLINGTON, Mass. (AP) — Progress Software Corp. (PRGS) on Tuesday reported fiscal first-quarter earnings of $23.7 million.
The Burlington, Massachusetts-based company said it had net income of 53 cents per share. Earnings, adjusted for one-time gains and costs, were $1.19 per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.04 per share.
The business software maker posted revenue of $164.2 million in the period. Its adjusted revenue was $165.6 million, also beating Street forecasts. Four analysts surveyed by Zacks expected $158.7 million.
Progress Software expects full-year earnings in the range of $4.09 to $4.17 per share, with revenue in the range of $680 million to $688 million.
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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