J.P. Morgan Comments on Taleo's Q4 10 Earnings (TLEO)

J.P. Morgan is out with its report today on Taleo

, commenting on Q4 10 earnings. In a note to clients, J.P. Morgan writes, "Non-GAAP EPS of $0.23 on revenue of $71M and application revenue of $58M exceeded consensus estimates of $0.18, $68M, and $56M, and our $0.18, $69M, and $57M, respectively. A lower-than-expected tax rate contributed a penny to the upside. Operating cash flow of ($0.9M) was better than the ($6M) we were looking for and was negatively affected by expected costs related to the Learn.com acquisition." Shares of TLEO closed yesterday at $30.68, down 1.95% from Tuesday's close.