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Tibco Software Reports Sharp Drop in Q2 Profit (TIBX)

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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.

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