Progress Software Corporation updated earnings guidance for the fiscal year ending November 30, 2022 and provided earnings guidance for the third quarter of 2022. For the quarter, the company expected revenue to be in the range of $145 million to $148 million. The company expected diluted earnings per share is expected to be in the range of $0.46 to $0.48.

For the fiscal year, the company expected GAAP revenue to be in the range of $601 million to $609 million compared to prior guidance of $601 million to $609 million. GAAP income from operations is expected to be in the range of $133.5 million to $139.8 million. GAAP net income to be in the range of $93.7 million to $98.2 million. GAAP diluted earnings per share is expected to be in the range of $2.11 to $2.21 compared to prior guidance of $2.16 to $2.23.