Progress Software Q2 2020 Earnings Report
Key Takeaways
Progress reported a strong second quarter, with solid performance across segments and products. The business demonstrated durability despite economic disruption. Increased full-year guidance for revenue and EPS reflects confidence in the company's ability to execute.
Revenue of $100.4 million remained flat year-over-year on an actual currency basis, and increased 2% year-over-year on a constant currency basis.
Non-GAAP revenue of $102.5 million decreased 1% on an actual currency basis and increased 1% year-over-year on a constant currency basis.
Diluted earnings per share was $0.37 compared to $0.18 in the same quarter last year, an increase of 106%.
Non-GAAP diluted earnings per share was $0.63 compared to $0.65 in the same quarter last year, a decrease of 3%.
Progress Software
Progress Software
Progress Software Revenue by Segment
Forward Guidance
Progress provides updated guidance for the fiscal year ending November 30, 2020 and the fiscal third quarter ending August 31, 2020.
Revenue & Expenses
Visualization of income flow from segment revenue to net income