Jive Software Plunges on Wider Q2 Loss, Slashed Outlook (JIVE)

released its fiscal second-quarter earnings results after the closing bell on Tuesday. The company reported better-than-expected earnings and revenue, but the stock fell sharply in late trade on a reduced full-year outlook. Jive also provided third-quarter revenue guidance that was below current consensus. At last check, Jive shares had lost almost 17 percent in the after-hours session.

"Our second quarter financial results met or exceeded our guidance on both the top and bottom line. However, the evolution of the market toward the mainstream buyer, combined with our go-to-market execution challenges, led to longer than expected sales cycles at the end of the quarter," stated Tony Zingale, Chairman & CEO of Jive. "Despite these challenges, we signed new blue chip customers, expanded relationships with existing strategic customers and led the market by delivering significant new product innovations."

Jive reported a net loss of $17.8 million or $0.27 per share, compared to $11.6 million or $0.19 per share, in last year's corresponding period. On an adjusted basis, the company's net loss was $9.5 million or $0.10 per share. This was better than analysts' consensus EPS estimates calling for a loss of $0.16. Revenue in the quarter rose 31 percent to $35.2 million from $26.95 million last year. This topped analysts' consensus revenue estimates of $35.16 million by a narrow margin.

For the third-quarter, Jive said that it expects a loss of $0.14 to $0.16 per share on revenue of $36.0 million to $37.0 million. This compares to current consensus estimates calling for a loss of $0.14 per share on revenue of $38.19 million. For fiscal 2013, the company cut its outlook. Jive now anticipates a per share loss of between $0.59 and $0.62 on revenue of $144.0 million to $146.0 million. Previously, the company had guided for a full-year per share loss of $0.53 to $0.60 on revenue of $148.0 million to $153.0 million. Currently, Wall Street analysts expect Jive Software to report a loss of $0.58 per share on revenue of $150.27 million for the fiscal year.