TIBCO Software Matches Street Targets on Earnings, Misses on Revenue; Shares Down 11%
Data analysis expert TIBCO Softwarejust reported results for the first quarter of 2013.
Revenue grew 5.4% year over year, to $238 million, $4.5 million short of analyst consensus. Adjusted earnings fell 10%, to $0.18 per share, matching Street targets exactly.
Shares fell as much as 11% in after-hours trading on the news. The company will provide guidance for the coming quarter in this evening's analyst call. Analysts currently expect non-GAAP earnings of $0.26 per share on roughly $265 million in revenues for the second quarter.
"Our competitive differentiation remains strong, and we are well positioned to benefit from the current trends driving enterprise IT spending, such as 'big data,'" said CEO Vivek Ranadive.
The article TIBCO Software Matches Street Targets on Earnings, Misses on Revenue; Shares Down 11% originally appeared on Fool.com.Fool contributor Anders Bylund owns shares of TIBCO Software, but he holds no other position in any company mentioned. Check out Anders' bio and holdings or follow him on Twitter and Google+.Motley Fool newsletter services have recommended buying shares of TIBCO Software. The Motley Fool has a disclosure policy. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.