Progress Software Profit Surges on AI-Driven Demand

The company’s earnings per share climbed to 50 cents, a notable increase from the 39 cents reported during the same period last year. On an adjusted basis, the firm delivered $1.62 per share, significantly outpacing the $1.49 anticipated by FactSet. Chief Executive Yogesh Gupta credited this growth to the sustained adoption of the company’s AI-integrated tools.

Following these results, management raised its full-year revenue outlook to a range between $990 million and $1.01 billion. Adjusted earnings guidance for the fiscal year also saw an upward revision, moving to a window of $6.09 to $6.21 per share. For the upcoming third quarter, the company expects revenue to land between $244 million and $250 million, with adjusted earnings per share forecasted at $1.53 to $1.59.