Progress Software Posts Upbeat Q2 Earnings, Joins PowerFleet, Meta Platforms And Other Big Stocks Moving

U.S. stocks were lower, with the Nasdaq Composite falling around 200 points on Wednesday.

Shares of Progress Software Corp (NASDAQ:PRGS) rose sharply after the company posted better-than-expected second-quarter results.

Progress Software reported quarterly earnings of $1.62 per share which beat the analyst consensus estimate of $1.49 per share.

The company reported quarterly sales of $253.465 million which beat the analyst consensus estimate of $242.741 million.

Progress Software shares jumped 11.7% to $37.52 on Wednesday.