Market Overview

Tibco Software Reports Sharp Drop in Q2 Profit (TIBX)

Related TIBX
Bank Of America Sees Multiple Strategic And Tactical Levers For TIBCO Software
Morgan Stanley Sees Execution Challenges, Low Event Probability For TIBCO Software

Tibco Software (NASDAQ: TIBX) released its fiscal second-quarter earnings results on Thursday after the closing bell.

The company reported earnings per share that were in-line with Wall Street estimates, but revenues that missed expectations. In late trade, the stock was last down 0.67 percent to $20.87.

Management Commentary

"Improving sales execution remains our top priority. While work remains to be done, we saw signs of improvement and a healthier base of activity this quarter," said Chief Executive Vivek Ranadive.

Q2 Financial Results For the second-quarter, the company reported net income of $8.7 million or $0.05 per share, compared to $26.5 million or $0.16 per share, last year.

On an adjusted basis, which is comparable to analysts' consensus, Tibco reported net income of $29.7 million or $0.18 per share, compared to $43.6 million or $0.26 per share, in last year's second-quarter. This was in-line with Wall Street EPS estimates.

Sales in the period were $245.9 million from $247.4 million last year. This missed analysts' consensus revenue estimates of $246.55 million.

Posted-In: Earnings News Guidance After-Hours Center Movers Best of Benzinga

 

Related Articles (TIBX)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters