Progress Software Corporation - Common Stock (PRGS)

Stocks are modestly higher Tuesday afternoon, as Wall Street shakes off a sluggish open amid a new wave of economic data.

Annualized recurring revenue, a key operating metric, jumped 48% YoY to $836 million, with the growth rate accelerating from the 46% pace in the previous quarter.

U.S. stock futures fell on Monday after three consecutive days of decline on Friday. Futures of benchmark indices were lower in premarket.

The Finchat-compiled consensus estimates call for adjusted earnings per share (EPS) of $1.06 and revenue of $235.64 million for the first quarter of the fiscal year 2025.

Annualized recurring revenue, a key operational metric for software companies, jumped 46% YoY to $842 million in the fourth quarter.

Progress Software Corp shares are trading higher in Tuesday's after-hours session after the company reported better-than-expected financial results for the third quarter.