Progress Software Corporation announced its financial results for the fiscal third quarter ended August 31, 2024, reporting non-GAAP diluted earnings per share of $1.26, which surpassed analyst estimates by $0.12. The company's revenue reached $179 million, also exceeding analyst consensus by $3.07 million. GAAP profit for the quarter was $28.5 million, translating to $0.65 per share.
The company's operating margin for Q3 2024 stood at over 41%, reflecting strong top-line performance and effective expense control. Progress also confirmed its expectation to close the previously announced acquisition of ShareFile before the end of its fiscal year, which is a significant strategic development.
Progress updated its fiscal year 2024 and fourth-quarter 2024 guidance, incorporating one month of anticipated contribution from the ShareFile acquisition. This updated outlook provides investors with a clearer picture of the company's near-term financial trajectory following the integration of the new business unit.
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