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May 31, 2020
Progress Software Q2 2020 Earnings Report
Progress's Q2 2020 earnings were announced, exceeding revenue guidance and increasing full-year guidance for revenue and EPS.
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%.
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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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