Progress Software program shares fall 5% on weak steering regardless of This fall beat


BURLINGTON, Mass. – Progress Software program Company (NASDAQ:PRGS) reported fourth quarter earnings that beat analyst expectations, however shares fell sharply, by 5.5%, in after-hours buying and selling as the corporate’s steering got here in under Wall Avenue estimates.

The software program firm posted adjusted earnings per share of $1.33 for the quarter ended November 30, 2024, surpassing the analyst consensus of $1.21. Income grew 21% YoY to $215 million, additionally topping expectations of $211.7 million.

Nevertheless, Progress Software program’s outlook for the upcoming fiscal yr disillusioned buyers. The corporate forecast full-year 2025 adjusted EPS of $5.00-$5.12, nicely under the $5.62 analysts had been projecting. First quarter EPS steering of $1.02-$1.08 additionally fell in need of the $1.44 consensus estimate.

The weak steering overshadowed an in any other case stable quarter, sending shares down 5.5% in after-hours buying and selling following the discharge.

“2024 was a powerful yr for Progress as we proceed to execute on our long-term technique to speculate and innovate, purchase and combine, and drive buyer success to ship Whole (EPA:TTEF) Development,” mentioned CEO Yogesh Gupta.

Progress Software program reported annualized recurring income of $842 million in This fall, up 46% YoY on a continuing foreign money foundation. The corporate accomplished its acquisition of ShareFile from Cloud Software program (ETR:SOWGn) Group through the quarter.

For fiscal 2024, Progress Software program generated money stream from operations of $211.5 million, up 22% from $173.9 million the prior yr.

CFO Anthony Folger famous that web income retention closed above 100% for the yr. Nevertheless, the corporate’s conservative outlook for 2025 seems to have overshadowed the constructive momentum from 2024.

This text was generated with the assist of AI and reviewed by an editor. For extra data see our T&C.

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