Progress Software Corp (NASDAQ:PRGS) shares are trading higher in Tuesday’s after-hours session after the company reported better-than-expected financial results for the third quarter.
Q3 Revenue: $178.69 million, versus estimates of $175.94 million
Q3 EPS: $1.26, versus estimates of $1.14
Total revenue was up 2% on a year-over-year basis. Annualized recurring revenue totaled $582 million, “relatively flat” on a constant currency basis. Operating margin was 23%, while adjusted operating margin was 41%.
Progress Software said it ended the quarter with $232.7 million in cash and cash equivalents.
“This is a very exciting time for Progress. Our Q3 results were ahead ...
