04:57 PM EDT, 06/25/2024 (MT Newswires) -- Progress Software ( PRGS ) reported fiscal Q2 non-GAAP earnings late Tuesday of $1.09 per diluted share, up from $1.06 a year earlier.

Analysts surveyed by Capital IQ expected $0.95.

Revenue for the quarter ended May 31 was $175.1 million, down from $178.3 million a year earlier.

Analysts surveyed by Capital IQ expected $168.4 million.

The company said it expects fiscal Q3 non-GAAP EPS of $1.11 to $1.15. Analysts surveyed by Capital IQ expect $1.21. The company expects revenue for the quarter of $174 million to $178 million. Analysts surveyed by Capital IQ expect $183.5 million.

Progress Software ( PRGS ) expects fiscal year 2024 non-GAAP EPS of $4.70 to $4.80, compared with a prior outlook of $4.65 to $4.75. Analysts surveyed by Capital IQ expect $4.69. The company raised its revenue outlook for the year to $725 million to $735 million from previous guidance of $722 million to $732 million. Analysts surveyed by Capital IQ expect $726.6 million.

Shares of the company rose nearly 3% in after-hours trading.

Price: 50.00, Change: +1.30, Percent Change: +2.67